As a result of slow economic growth following the recession of 2007-2009, companies including Intel and Worthington Industries cut production and employment in 2015 as a result of the sluggish growth in the total amount of spending in the economy. The total amount of spending in the economy is known as
A) planned investment spending.
B) aggregate expenditure.
C) deficit spending.
D) equilibrium spending.
B
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The above figure shows Bobby's indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from an increase in the price of soda. From the graph, one can conclude that
A) Bobby views soda as an inferior good. B) Bobby's demand for soda is perfectly inelastic. C) Bobby views soda as a normal good. D) the income elasticity of demand for soda is 1.
Population growth rates tend to be ______.
a. dependent on economic growth b. unaffected by a country’s wealth c. higher in poorer countries d. higher in richer countries
Risk premium is the ________ amount that a ________ person would pay to avoid ________
A) maximum; risk-averse; taking a risk B) maximum; risk-neutral; losing everything C) minimum; risk-averse; taking a risk D) minimum; risk-loving; losing everything
Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index (CPI) is currently 110 . This indicates the price of the market basket of goods and services is now
a. $110. b. $1,000. c. $1,100. d. $1,225.