Research by Reinhart and Rogoff indicate that most of the increase in national debt as a result of a financial crisis is due to
A) government bail outs of financial institutions.
B) increase spending on social welfare programs.
C) government stimulus programs.
D) sharp declines in tax revenues.
D
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For a consumer not bound by the collateral constraint, a reduction in the price of the collateral leads to
A) nothing. B) an increase in current consumption and a decrease in future consumption. C) a decrease in current consumption and no change in future consumption. D) a decrease in current and future consumption.
Monopoly power in a market causes:
A. monopolists to profit. B. consumers to gain. C. market surplus to be constant D. governments to neve allow them.
The points along the demand curve represent the maximum price consumers are willing to pay for various quantities of a product.
Indicate whether the statement is true or false.
When the demand for coffee increases, ceteris paribus, the equilibrium price will also increase because
A. A shortage exists at the old equilibrium price. B. The market supply and demand curves do not intersect. C. Market demand must be upward-sloping. D. There must be a surplus of the good.