Which national income account should be examined to discover trends in the after-tax income that people have to save and spend?
Disposable personal income (DI)
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When used in a professional or technical sense, the law of supply and demand refers to
A. some vague influences on economic affairs. B. the fact that prices go up when commodities are scarce. C. the market forces that show how prices and quantities are determined. D. the controls that regulate the amount of scarce goods that each consumer can purchase.
Billy is running a fast-food burger stand in his small community. If he is like other monopolistic competitors in short-run equilibrium which of the following would be true? a. His demand curve would be downward sloping
b. His marginal revenue curve would lie below his demand curve. c. He would be maximizing profits where his MC = MR. d. All of the above would be characteristics of Billy's burger stand.
?Long-run economic growth in the United States is best measured using
Which of the following would NOT increase British exports to the United States?
A. an appreciation of the British pound B. a depreciation of the British pound C. an appreciation of the U.S. dollar D. an increase in British demand for U.S. exports