The Confederate government
(a) failed to increase its external debt and thus produced domestic inflation.
(b) did not make the Confederate currency legal tender.
(c) failed to raise sufficient resources because of unwillingness to increase
the supply of paper money.
(d) did none of the above.
(b)
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A given change in disposable income would have the smallest effect on consumption with which of the following marginal propensities to consume?
a. 0.4 b. 0.6 c. 0.8 d. 0.2
Policies such as rent control and trade barriers persist in spite of the fact that economists are virtually united in their opposition to such policies, probably because
a. economists have not yet convinced the general public that the policies are undesirable. b. economists engage in positive analysis, not normative analysis. c. economists have values that are different from the values of most non-economists. d. economists' theories are not easily confirmed or refuted in laboratory analysis.
When taxes increase, consumption
a. decreases as shown by a movement to the left along a given aggregate-demand curve. b. decreases as shown by a shift of the aggregate demand curve to the left. c. increases as shown by a movement to the right along a given aggregate-demand curve. d. increases as shown by a shift of the aggregate demand curve to the right.
Which statement is an example of complementary goods affecting demand?
a. When diets that limited bread became popular, sales of jelly dropped. b. When studies showed that fish contained toxins, sales of chicken rose. c. As the U.S. Hispanic population grew, sales of salsa increased. d. After a fashion model shared her diet secrets, yogurt sales went up.