BOGOs, i.e., buy-one, get-one-free offers, are an example of third-degree price discrimination
Indicate whether the statement is true or false
FALSE
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Everything else held constant, aggregate demand increases when
A) taxes are cut. B) government spending is reduced. C) animal spirits decrease. D) the money supply is reduced.
If wages are sticky, then a smaller than expected increase in the price level
a) reduces the real costs of production, so the aggregate quantity of goods and services rises. b) raises the real costs of production, so the short-run aggregate supply curve shifts left. c) reduces the real costs of production, so the short-run aggregate supply curve shifts right. d) raises the real costs of production, so the aggregate quantity of goods and services declines.
Which of the following is an example of the life-cycle motive for saving?
A. Pat puts $400 per month in his 401(k) retirement account. B. Chris keeps $15,000 in a money market account to pay expenses in case he loses his job. C. Jordan sets aside $200 per month in case she has to pay for a new roof for her house. D. Gerry and Terry put $2,000,000 in a trust fund that will go to their children when they die.
Using the above table, the Personal Income (PI) for the country is
A. 84. B. 155. C. 306. D. 228.