Oil price hikes
A) decrease aggregate supply.
B) decrease aggregate demand.
C) increase aggregate supply.
D) increase aggregate demand.
E) increase potential GDP.
A
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While in school, Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week
A) Kiki is classified as a full-time worker, working 50 hours a week. B) Kiki is classified as a part-time worker, working 30 hours a week. C) Kiki is classified as a part-time worker, working 20 hours a week. D) Because Kiki is a student, she is not classified as working. E) Because Kiki is a student, she is classified as a full-time worker, working 20 hours a week at a paid job.
If government decides not to charge for access to a highly demanded highway, which of the following is most likely to happen?
a. Government will keep capacity the same. b. Government increase capacity to reduce congestion. c. Government will encourage telecommuting. d. Government will produce an inefficient level of highways to maximize social welfare.
Very high inflation can arise when huge budget deficits are financed by the government printing its domestic currency. Which country experienced inflation of several million percent in 2008 as a result of this problem?
a. Myanmar b. Ukraine c. Zimbabwe d. Belarus
If a good has a price elasticity of demand coefficient less than one, then:
A. this good has an elastic demand. B. this good has an inelastic demand. C. a 10 percent increase in the price will result in a greater than 10 percent decrease in the quantity demanded. D. the demand curve will be vertical.