U.S. baby boomers are beginning to retire and withdraw their savings for retirement. What effect should we expect this to have on equilibrium price and quantity of financial assets?
A. Price rises and quantity also rises.
B. Price falls and quantity also falls.
C. Price rises and quantity falls.
D. Price falls and quantity rises.
Answer: B
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Refer to the figures above. Suppose the graphs represent the demand for use of a local golf course for which there is no significant competition (it has a local monopoly). P denotes the price of a round of golf and Q is the quantity of rounds sold each day. If the left graph represents the demand during weekdays and the right graph the weekend demand, then over the course of a full seven-day week this price-discriminating, profit-maximizing golf course should sell a total of:
A. 1200 rounds. B. 900 rounds. C. 740 rounds. D. 300 rounds.
All of the following lead to a difference in income EXCEPT
A. the age-earnings cycle. B. sales tax. C. marginal productivity. D. discrimination.
The amount by which an aggregate expenditures schedule must shift upward to achieve the full-employment GDP is a(n):
A. Inflationary expenditure gap B. Recessionary expenditure gap C. Expenditure multiplier gap D. Negative net export gap
The recent U.S. national initiatives to control GHGs from mobile sources
a. includes market-based components such as CO2emissions trading b. provides negative net benefits to society, according to estimates c. will reduce carbon dioxide emissions but offers no savings of oil consumption d. was finalized by the Department of Agriculture and the EPA