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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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
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
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.
Money serves the following function(s):
(a) Medium of exchange (b) Store of value (c) Unit of account (d) All of the above