Households act as suppliers when they provide
a. goods and services to firms and governments
b. resources to firms and governments
c. tax payments to governments
d. the demand for only what firms supply or make available
e. money to firms in exchange for goods and services
B
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The impact of higher taxes would be examined by
A) a microeconomist. B) a macroeconomist. C) both a macroeconomist and a microeconomist. D) neither a macroeconomist nor a microeconomist.
Suppose that you join a gym that charges a $250 membership fee. You also have to pay an additional $5 each time you go the gym. In this case, your sunk cost is:
A. $250. B. dependent upon the number of time you go to the gym. C. $5. D. $250 plus $5 times every visit you make to the gym.
Which of the following statements is true?
A) Real GDP fluctuates around potential GDP. B) Potential GDP fluctuates around real GDP. C) Potential GDP is the same as real GDP. D) When all of the economy?s resources are fully employed, the value of production is called real GDP.
The total demand for money will shift to the left as a result of:
A. a decline in nominal GDP. B. an increase in the price level. C. a change in the interest rate. D. an increase in nominal GDP.