Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. A movement from Point C to Point B on demand curve D2 would be caused by a(n)
A. decrease in the price of pizza.
B. decrease in income, assuming pizza is a normal good.
C. increase in the price of pizza.
D. decrease in the price of hamburgers, assuming that pizza and hamburgers are substitutes.
Answer: C
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A decrease in household income for a good that is considered inferior would
A. move its demand curve to the left. B. move its demand curve to the right. C. cause a movement along the demand curve to a (higher price, lower quantity) point. D. cause a movement along the demand curve to a (lower price, higher quantity) point.
In 2010, of the following ________ had the highest real GDP per person
A) Japan B) Canada C) the Europe Big 4 countries D) the United States
Vault cash is equal to $8 million, deposits by depository institutions at the central bank are $2 million, the monetary base is $30 million, and bank deposits are $100 million. The money multiplier is equal to
A. 5.0. B. 4.0. C. 2.5. D. 3.0.
If both prices decreases by 50%,
A) budget constraint will be unchanged. B) slope of the budget constraint will increase. C) slope of the budget constraint will decrease. D) budget constraint will shift outward in a parallel fashion.