An index, based on a telephone survey of 500 households conducted by the University of Michigan, that measures households' attitudes regarding expected business conditions, personal financial conditions, an consumer confidence about purchasing
furniture and major household appliances is called the: A) Consumer Sentiment Index.
B) Consumer Confidence Index.
C) Consumer Satisfaction Index.
D) Consumer Consumption Index.
A
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If the supply of hotel rooms falls and all other relevant factors remain unchanged, then,
a. the demand for hotel rooms will fall. b. the quantity demanded of hotel rooms will fall. c. the demand for hotel rooms will rise. d. the quantity demanded of hotel rooms will rise.
Suppose in the United States, the opportunity cost of producing a motor engine is 4 auto bodies. In Canada, the opportunity cost of producing a motor engine is 2 auto bodies
a. What is the opportunity cost of producing an auto body for the United States? b. What is the opportunity cost of producing an auto body for Canada? c. Which country has a comparative advantage in the production of auto bodies? d. Which country has a comparative advantage in the production of motor engines?
An increase in the expected future price level: a. Shifts both SRAS and LRAS to the left
b. Shifts both SRAS and LRAS to the right. c. Shifts SRAS left but leaves LRAS unchanged. d. Shifts SRAS right but leaves LRAS unchanged.
Which statement about population growth is true?
a. How wealthy a country is has little impact on its population growth rate. b. A high population growth is just one possible explanation for declining standards of living. c. Population growth is naturally followed by greater economic growth. d. Population growth has no impact on economic growth or standards of living.