Figure 5-17
In Figure 5-17, which of the marked points would an economist use to help him construct a single demand curve for X?
A. A and B
B. C and D
C. A and C
D. A and D
Answer: D
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Which of the following will not occur as the result of a decrease in net taxes?
A) a shift to the left of the supply curve for loanable funds B) decreased government saving C) decreased household saving D) all of the above
If investors expect interest rates to fall significantly in the future, the yield curve will be inverted. This means that the yield curve has a ________ slope
A) steep upward B) slight upward C) flat D) downward
If the price of hamburger rises, we would expect the demand for steak to shift to the right
a. True b. False Indicate whether the statement is true or false
Voluntary trade promotes economic progress because it
a. encourages individuals to become self-sufficient. b. benefits buyers at the expense of sellers. c. makes larger outputs possible as a result of specialization. d. moves goods, services and resources from people who value them more to individuals who value them less.