Which of the following will cause a movement from one point on an AD curve to another point on the same AD curve?
A) a change in consumption
B) a change in government expenditures
C) a change in net exports
D) a change in the price level
E) all of the above
D
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If the dollar depreciates in value relative to foreign currencies, then aggregate ________.
A. demand increases B. demand decreases C. supply and aggregate demand decrease D. supply and aggregate demand increase
If you have flipped a fair coin and tails has come up 49 times in a row, what are the odds that the next flip will be a head?
A) 1/50 B) 1/25 C) 1/2 D) 1 (100%)
Which of the following is true of the price elasticity of demand of a product?
a. It measures the responsiveness of quantity demanded or quantity supplied to a change in one of the determinants of demand and/or supply. b. It is calculated as the percentage change in the quantity demanded of the product divided by the percentage change in the price of the product. c. It is calculated as the percentage change in the demand for the product divided by the percentage change in income of a consumer, everything else held constant. d. It measures the responsiveness of demand to a change in the quantity supplied. e. It is calculated as the percentage change in the quantity demanded of the product divided by the percentage change in the price of a related product, everything else held constant.
One of the main reasons that Malthus' prediction of repeated wars and famines did not come true is
a. the government's intervention in the economy b. the implementation of an income tax to raise money for governmental spending c. increases in the supply of labor d. continuing technological change e. changes in planned investment spending