From the standpoint of a soft drink company the question of "What goods and services should be produced?" is best represented by which of the following decisions?
A) whether or not to hire additional workers
B) whether or not to increase its advertising
C) whether or not to shut down selected manufacturing facilities
D) None of the above are examples.
D
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As the price level ________, the purchasing power of money ________
A) decreases; stays the same B) increases; decreases C) decreases; decreases D) increases; increases
The reminiscences of two famous people who were born into slavery, Frederick Douglass and Booker T. Washington, include all of the following except
(a) The common custom among slave owners was to ensure that small children of slaves had the nurturing of both parents until they reached good working age. (b) Their early years were not very different from thousands of other slave children. (c) Their fathers were white men. (d) They saw their mothers infrequently, only a few times in their lives, or only sometimes in the early morning hours before their mothers went to work or late at night.
Assume the price of pizza decreases. As a result, your real income increases and you increase the quantity of pizza purchased each month. This is an example of the:
A. substitution effect. B. income effect. C. revenue effect. D. consumer price effect.
The aggregate demand curve shows the combinations of output and the price level that put the economy on
A. the IS curve. B. the FE line, the IS curve, and the LM curve. C. the FE line and the IS curve. D. the IS curve and the LM curve.