In 2014, the poverty line was
A. $12,701 for one person and $24,230 for a family of four.
B. $15,769 for one person and $32,463 for a family of four.
C. $12,013 for one person and $15,769 for a family of four.
D. $9,373 for one person and $13,500 for a family of four.
Answer: A
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Suppose there is a flood in St. Louis, Missouri, that destroys several beer bottling facilities. Which of the following would not be a direct result of this event?
a. Sellers would not be able to produce and sell as much as before at each relevant price. b. The supply would decrease. c. Buyers would not be willing to buy as much as before at each relevant price. d. The equilibrium price would rise.
Refer to Table 3.2, which shows some costs and benefits of having your car repaired. Suppose your mechanic charges a non-refundable fee of $100 just for scheduling an appointment. What happens to the best choice of hours to spend on car repairs?
A. It increases by 1 hour. B. It decreases by 1 hour. C. It doesn't change. D. It decreases by 2 hours.
Which of the following is a general rule for how demand shocks affect the IS curve?
A) Demand shocks will always show up as changes in the expected real exchange rate. B) Demand shocks are usually rare and have little effect. C) When any exogenous variable works to increase demand, IS shifts to the right and, conversely, when any exogenous variable works to decrease demand, IS shifts to the left. D) When any exogenous variable works to increase demand, IS shifts to the left and conversely, when any exogenous variable works to decrease demand, IS shifts to the right.
To the degree that the American Medical Association constraints the number of new spots that are available in the nation's medical schools, it is
A. shifting the demand for physicians to the right. B. kinking the supply of physicians to make it vertical at the level of the constraint. C. shifting the supply of physicians to the right. D. shifting the demand for physicians to the left.