Stocks change ________ whereas flows relate to ________
A) and that causes flows to change; changes that have no impact on stocks
B) between points in time; changes within a given time period
C) within a given period of time; changes between points in time
D) only at the end of each year; amounts at a given point in time
B
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Inflation: a. always reduces real income
b. never reduces real income. c. reduces the real income of workers when wages increase more than prices do. d. reduces the real income of workers when wages increase less than prices do. e. increases the real income of workers only when wages increase less than prices do.
The ________ effect of a price change refers to the impact of a change in the price of a good on a consumer's purchasing power
A) income B) substitution C) demographics D) ceteris paribus
Refer to the information provided in Figure 25.2 below to answer the question(s) that follow.
Figure 25.2Refer to Figure 25.2. An increase in nominal income could be represented by a movement from Point ________ to Point ________.
A. B; D B. B; A C. A; B D. A; C
How do expectations about the future by households and businesses affect the effectiveness of fiscal policy? Cite examples.
What will be an ideal response?