Kevin decided to buy a ticket for a baseball game four months early to make sure he could get it. However, when he tried to buy the ticket online, the game was already sold out. Which of the following is the best explanation?
a. the fallacy of composition
b. ceteris paribus
c. causation
d. correlation
a. the fallacy of composition
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Let C = 300 + 0.9y and I = 125. The value of the multiplier is
A) 0.9. B) 9. C) 10. D) 27.
When inflation occurs, consumers
a. realize gains in their wealth. b. increase spending to catch up with higher prices. c. automatically shift the consumption line upward. d. suffer a decrease in real wealth.
Figure 9-16
shows that the profit-maximizing output level is
a.
0.
b.
25.
c.
75.
d.
200.
If the asset market is to remain in equilibrium, then if the money supply increases, output is unchanged, the price level is unchanged, and the expected inflation rate is unchanged, then
A. the real interest rate must decline. B. the nominal interest rate must rise. C. the real interest rate must rise. D. the inflation rate must rise.