Which of the following is not held constant along a given demand curve?
a. income
b. price
c. tastes
d. expectations
b
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Equilibrium expenditure is defined as the level of aggregate expenditure where...
a) actual aggregate expenditure equals real GDP b) total inventories equal zero c) aggregate planned expenditure equals real GDP d) spending equals output
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
The Bank Holding Company Act of 1956:
A. significantly broadened the scope of what bank holding companies could do. B. limited bank holding companies to operating only within their chartered state. C. repealed the McFadden Act of 1927. D. limited the scope of bank holding companies in terms of services offered.
The four factors of production (or types of resources) are
A. labor, capital, technology, and entrepreneurial ability. B. land, labor, capital, and entrepreneurial ability. C. labor, capital, entrepreneurial ability, and money. D. land, labor, capital, and money.