In an effort to lose weight, Sam posts flyers all over town that offer a reward of $50 to anyone who catches him eating unhealthy food. Sam's flyers are an example of:
A. price-optimization theory.
B. a way to deal with inconsistent costs.
C. the law of supply.
D. a commitment device.
Answer: D
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Which of the following does NOT describe a function of money?
A) unit of account B) barter C) medium of exchange D) store of value
A proportional tax:
A. takes the same percentage of taxes from income from all taxpayers. B. requires those with low incomes to pay a smaller percentage of their income than high-income people. C. is levied so that low-income taxpayers pay a greater proportion of their income toward taxes than high-income taxpayers. D. taxes everyone the same amount, regardless of their income.
In the simplest Keynesian expenditure model, which of the following is fixed to allow for easy evaluation of changes in demand due to real income?
a. the price level b. interest rates c. tastes and preferences d. future expectations
When the credit demand curve is relatively flat:
A) the quantity of credit demanded is relatively sensitive to changes in the real interest rates. B) the quantity of credit demanded is relatively sensitive to changes in the taxation rates. C) the quantity of credit demanded is not responsive to changes in the taxation rates. D) the quantity of credit demanded is not responsive to changes in the real interest rate.