The legislature is equivalent to a political market because _____
a. legislators are akin to price takers
b. policies can be bought and sold
c. legislators can be bought and sold
d. logrolling allows legislators to trade amongst themselves
d
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A decrease in foreign incomes
A) increases aggregate demand in the United States. B) increases the aggregate quantity demanded in the United States. C) decreases the aggregate quantity demanded in the United States. D) decreases aggregate demand in the United States.
One reason consumers were able to assume an increasing amount of household debt during the 2000s is because:
A. interest rates were so low that it made borrowing easier. B. even though interest rates were high, the inflated values of homes allowed them to afford it. C. interest rates were so low that people found it very easy to save their extra income. D. even though interest rates were high, the herd instinct gave people a false confidence in their future wealth.
According to the simple macroeconomic model presented in Chapter 3, which of the following will not be caused by an increase in government spending?
A. an increase in interest rate B. a decrease in consumption C. a decrease in investment D. an increase in government debt
The Standard & Poor's 500 Index:
A. actually includes more than 500 of the largest corporations in the U.S. B. gives more weight to large companies than small companies. C. assigns equal weight to all the prices of all the stocks in the index. D. is a price-weighted index.