The national poverty rate in the United States reached a low in the
a. early 1960s.
b. early 1970s.
c. late 1970s.
d. early 1980s.
b
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Assume there is a simultaneous decrease in the cost of batteries used in hybrid cars and a shift in consumer preferences toward more fuel-efficient vehicles
Based on this, we can conclude, with certainty, that in the market for hybrid cars, equilibrium: A) price will decrease. B) price will increase. C) quantity will decrease. D) quantity will increase.
The three players in the money supply process include
A) banks, depositors, and the U.S. Treasury. B) banks, depositors, and borrowers. C) banks, depositors, and the central bank. D) banks, borrowers, and the central bank.
Which of the following statements best describes the nature of the Phillips curve?
a. A downward-sloping Phillips curve should be interpreted as valid for long-run periods of several years, but over shorter periods, when aggregate supply shifts, the downward-sloping Phillips curve can shift so that unemployment and inflation are both higher or both lower. b. A downward-sloping Phillips curve should be interpreted as valid for short-run or longer periods, but when aggregate supply shifts, the downward-sloping Phillips curve can shift so that unemployment and inflation are both higher or both lower. c. A downward-sloping Phillips curve should be interpreted as valid for short-run periods of several years, but over longer periods, when aggregate supply shifts, the downward-sloping Phillips curve can shift so that unemployment and inflation are both higher or both lower. d. A downward-sloping Phillips curve should be interpreted as valid for short-run periods of several years, but over longer periods, when aggregate supply shifts, the downward-sloping Phillips curve can shift so that either unemployment or inflation may become higher or lower.
An increase in the price of a good would
a. decrease the demand for the good. b. decrease the quantity demanded for the good. c. increase the demand for the good. d. decrease the quantity supplied of the good.