Everything else held constant, if aggregate output is to the ________ of the IS curve, then there is an excess ________ of goods which will cause aggregate output to fall
A) right; supply
B) right; demand
C) left; supply
D) left; demand
A
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Lizzie's budget line is shown in the figure above. If the price of a cookie rises, Lizzie's real income in terms of cookies ________ and her real income in terms of magazines ________
A) decreases; increases B) increases; decreases C) decreases; does not change D) increases; does not change
If a consumer has a choice between only two goods and both of them are perfect substitutes what would the indifference curve look like and why?
What will be an ideal response?
The double taxation of corporate profit in the United States refers to the fact that
A) tax rates on partnerships are very high. B) depreciation is not a deductible expense. C) corporate profit is first taxed and then any dividends paid are subject to personal income tax. D) proprietorships are not subject to any tax on earnings.
The television network newscaster reports that the national inflation rate the past year equaled 4 percent. This report would be of particular interest to a ____
a. microeconomist. b. normative economist. c. macroeconomist. d. Ceteris paribus. e. social science economist.