Within the IS-LM curve model, an increase in government spending financed by printing money will always
a. have no impact on income.
b. lower income and raise the interest rate.
c. increase the interest rate.
d. lower the interest rate and increase income.
e. increase income.
E
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Wages and salaries are examples of:
A. consumption. B. labor income. C. profits. D. capital income.
Individuals A and B both produce good X. A has a comparative advantage in the production of good X if A
A) has a lower opportunity cost of producing good X than has B. B) has a lower opportunity cost of producing good X than of producing good Y. C) can produce more units of X in a given time period than can B. D) can produce X using newer technology than can B.
Celebrity endorsements are often used by monopolistically competitive firms to boost the reputation of the product that is being endorsed
a. True b. False Indicate whether the statement is true or false
If the marginal utilities of the first 5 candy bars are 15, 14, 10, 7, and 3, respectively, the total utility derived from consuming all 5 candy bars is
a. 5 b. –12 c. 12 d. 35 e. 49