If consumer incomes go up and Harley Davidson motorcycles are a normal good, the effect on the demand for motorcycles, ceteris paribus, will be a(n):
a. upward movement along the demand curve for motorcycles.
b. downward movement along the demand curve for motorcycles.
c. rightward shift in the demand curve for motorcycles.
d. leftward shift in the demand curve for motorcycles.
c
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How do the wages in the United States compare to those in northern Europe?
A. U.S. wage rates are higher than those of all northern European nations. B. Northern Europe’s average wage rates are higher. C. U.S. wage rates are higher than those in Germany and the Netherlands. D. They are similar.
The amount of money available in the economy:
A. is called the money supply. B. is managed by the Federal Reserve. C. varies depending on what is considered money. D. All of these are true.
If an economy produces 3,000 units of output with a money supply of $500 and a velocity of 9, we know the price level must be:
A. $1.50. B. $2. C. $4.50. D. $9.
The supply of loanable funds is not
A. upward sloping. B. affected by people’s plans for fixed purchases. C. a function of the interest rate. D. the MRP of investment.