Which of the following statements is true?
a. Demand refers to how much of a good a consumer is willing to purchase at all prices
b. Demand refers to how much of a good a consumer is able to purchase at all prices.
c. Demand refers to how much of a good a consumer is able to consume during a given period of time.
d. Demand refers to how much of a good a consumer is willing and able to purchase at all prices.
d
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If aggregate spending in an economy can be written as Y = 15,000 + 0.6Y - 20,000r, and potential output equals 34,000, what real interest rate must the Federal Reserve set to bring the economy to full employment?
A. 5 percent B. 7 percent C. 3 percent D. 6 percent
Which of the following is the correct way to describe equilibrium in a market?
A) At equilibrium, market forces no longer apply. B) At equilibrium, quantity demanded equals quantity supplied. C) At equilibrium, demand equals supply. D) At equilibrium, scarcity is eliminated.
Which of the following most accurately describes changes in life expectancy?
a. Life expectancy was relatively low until 1750, after which it increased rapidly. b. Life expectancy has increased steadily during the past 6,000 years. c. Life expectancy was low until after World War II, after which it increased very quickly. d. Life expectancy has exhibited significant cyclical patterns of growth and decline.
Potential solutions to sell a high-quality used car include
a. offering a warranty b. selling through a reputable dealer c. documenting the complete repair history d. all of the above