An example of a capital good is
A) a fiber optic cable TV system.
B) an insurance policy.
C) a haircut.
D) an iPod.
E) a slice of pizza.
A
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
The period of time from 1,000,000 B.C. to 1300 A.D. was a period of
A) moderate economic growth. B) rapid and sustained economic growth. C) no sustained economic growth. D) slow and steady economic growth.
Who would benefit if the exchange rate with yen (in U.S. dollars) increased?
a. c and e. b. Japanese tourists. c. U.S. consumers. d. U.S. exporters. e. Japanese exporters.
Which of the following is true?
A) Voters have a strong incentive to make well-informed choices when voting in state and federal elections. B) Policies favored by a majority will assure that resources are allocated efficiently. C) The rational ignorance effect indicates that voters have very little incentive to be well informed when making political choices. D) Political action is based on voluntary exchange and mutual agreement.