Which of the following is an objective of macroeconomic stabilization?
(a) eliminating current account deficits.
(b) controlling inflation.
(c) restoring fiscal balance.
(d) all of the above.
D
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Since 1935, the proportion of income received by the top 5 percent of Americans has: a. increased substantially. b. increased minimally
c. decreased minimally. d. decreased substantially.
Zach and Laura want to buy cars and go to the same dealer. The dealer perceives Zach's price elasticity of demand to be lower than Laura's. Which of the following statements will be true?
a. The dealer will quote the same price to both since individual characteristics do not matter. b. The dealer will quote a higher price to Laura because of her gender. c. The dealer will quote a higher price to Zach because his demand is less elastic. d. The dealer will quote different prices to both according to their bargaining tactics.
A perfectly elastic supply curve is: a. upward sloping to the right
b. downward sloping to the left. c. horizontal. d. vertical.
Good A has an income elasticity equal to -1.0 and a cross price elasticity with respect to Good B of 0.9 . Then: a. Good A is an inferior good and Goods A and B are substitutes. b. Good A is an inferior good and Goods A and B are complements. c. Good A is a normal good and Goods A and B are substitutes
d. Good A is a normal good and Goods A and B are complements.