Increased saving today means
a. more consumption today and in the future
b. less consumption today and in the future
c. more consumption today and less in the future
d. less consumption today and more in the future
e. more income today, but the net effect of increased income on the balance between consumption and saving cannot be determined in advance
D
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Refer to Tax Problem. In the absence of any government intervention (e.g. taxes or price controls), the market equilibrium is
Consider a perfectly competitive market were demand is Q = 100 - P and Supply is Q = P - 10. a. P = 45, Q = 45 b. P = 55, Q = 45 c. P = 45, Q = 55 d. P = 55, Q = 55
Will scarce goods necessarily be rationed in some manner?
A) Not if people agree to share them equitably B) Not if there is enough for everyone to have what they need C) Not if their prices are free to rise D) Not if they are privately owned E) Yes
________ in the job market trace to training, education, experience, ability, risk of job loss, and risk of injury
a. Racial discrimination b. Wage discrimination c. Geographical discrimination d. Gender discrimination
The NBER's Business Cycle Dating Committee picks recession dates by looking at many variables, the four most important of which are industrial production, manufacturing and trade sales, nonfarm employment, and real personal income. These variables are known as
A. lagging indicators. B. recession indicators. C. leading indicators. D. coincident indicators.