The underlying reason of the problem of pollution is
A. a poorly run Environmental Protection Agency.
B. greed on the part of producers.
C. greed on the part of consumers.
D. poorly defined property rights that are expensive to enforce.
Answer: D
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When the AE curve shifts upward because the price level falls, the corresponding effect on the aggregate demand curve is
A) a shift rightward of the aggregate demand curve. B) a movement upward along the aggregate demand curve. C) a shift leftward of the aggregate demand curve. D) a movement downward along the aggregate demand curve. E) nothing because aggregate demand does respond to changes in the price level.
If the consumption function is C = 120 +_.8(Y-T) in the basic Keynesian model, then in the government spending multiplier is:
a. 5. b. 4. c. 1.25. d. .8
Money serves the following function(s):
(a) Medium of exchange (b) Store of value (c) Unit of account (d) All of the above
Suppose you inherit an orange orchard and it generates an annual return of $16,000 . You want to sell it. The interest rate is 8 percent. What should you expect to receive for it?
a. $1,280 b. $2,400 c. 200,000 d. 192,000 e. not enough information is given