Refer to Figure 7-1. Under autarky, the consumer surplus is area
A) S + V. B) S. C) R. D) R + S + V.
C
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An English auction consists of ________
A) an auctioneer and several bidders B) one auctioneer and one bidder C) few auctioneers and several bidders D) several auctioneers and one bidder
Refer to the Article Summary. The increase in consumer spending discussed in the article summary was due in part to increases in employment and lower energy prices, which lead to an increase in disposable income
The increase in consumption resulting from the increase in disposable income will cause a(n) ________ the aggregate expenditure curve. A) movement down along B) upward shift of C) movement up along D) downward shift of
Describe the factors that could cause an increase in the wage rate of workers
Monetarists say:
A. that, because P is stable, a change in M will change Q proportionately in the opposite direction. B. a change in the money supply will change aggregate demand and therefore the nominal GDP. C. a change in the money supply will change velocity, which in turn will change nominal GDP. D. a change in the money supply will change the interest rate, which will change investment spending and nominal GDP.