The aggregate demand curve is:
A. Vertical.
B. Horizontal.
C. Downward sloping to the right.
D. Upward sloping to the right.
C. Downward sloping to the right.
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Wealthy professors are more likely to shop at high end stores with shorter wait times at the cashier than poor students because
a. They value the item more than the student b. They like wasting money c. The opportunity cost of waiting in a cashier line is higher for professors than for undergraduate students d. They like to show off
An economic benefit of contracts is that they
a. protect property rights b. encourage involuntary exchanges c. reduce the number of possible Pareto improvements d. encourage market concentration e. encourage specialization
Which of the following would be most likely to cause a reduction in current aggregate demand in the United States?
a. increased fear of a recession b. an increase in the expected rate of inflation c. a sharp increase in the value of stocks owned by Americans d. a rapid increase in the growth of income in Canada, Mexico, and Western Europe
Two reasons why the Social Security system nearly went bankrupt in the early 1980s are: (i) wages were indexed but benefits were not; (ii) the percentage of elderly people in the country declined
a. i and ii b. i but not ii c. ii but not i d. neither i nor ii