The decrease in consumer spending that occurred after the collapse of the housing bubble caused aggregate:
A. supply to increase.
B. demand to decrease.
C. demand to increase.
D. supply to decrease.
Answer: B
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Because of the number of firms in monopolistic competition,
A) each firm has a large market share. B) it is possible for the firms to collude. C) no one firm can dominate the market. D) one firm has the ability to dictate market conditions. E) each firm must carefully monitor what its competitors do.
In the above figure, once on PPF2, a country would grow slowest by producing at point
A) A. B) B. C) C. D) D.
An unexpected fall in the Producer Price Index should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Barter can best be defined as:
a. the direct exchange of one good for money. b. the direct exchange of money for a good. c. the direct exchange of goods and services without the use of money. d. the direct exchange of labor services for wages. e. the payment of interest on a savings account.