After getting a raise at work, Jasper now regularly buys steak instead of chicken. Which factor of demand has influenced Jasper's demand for steak?
A. Price of a substitute good
B. Income
C. Preferences
D. Price of a complementary good
Answer: B
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During the last part of the 19th century, which factor contributed to the lag in railroad construction in the Southeast and Southwest?
A. Sparseness of population B. War-induced poverty C. Coastal shipping. D. All of the above are correct.
In the long run
a. both supply and demand shocks have permanent effects on real GDP. b. real GDP can remain below potential. c. real GDP can remain above potential. d. both supply and demand shocks have no effect on real GDP. e. supply shocks have permanent effects on real GDP but demand shocks have no effect.
The Bureau of :Labor Statistics has been compiling an experimental CPI for the elderly, called CPI-E
a. True b. False
Long-run aggregate supply will decrease for...
What will be an ideal response?