Consider the budget line in the above figure. If the consumer's income is $240, then the price of a movie is
A) $24 per movie.
B) $12 per movie.
C) $10 per movie.
D) More information is needed to determine the price of a movie.
C
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When the Fed uses contractionary policy
A) it does not change the price level. B) the price level rises less than it would if the Fed did not pursue policy. C) it causes inflation. D) the price level rises higher than it would if the Fed did not pursue policy.
On a short-run macro model diagram, the impact of a decrease in government purchases (G) is illustrated by
a. a downward shift of the aggregate expenditure line by the full amount of the change in G b. an upward shift of the aggregate expenditure line followed by an equal downward shift of that line c. a leftward shift of the money supply curve d. a downward shift of the aggregate expenditure line by an amount less than the change in G e. the increase in real income
The best example of a market capitalist economy is:
A) Russia. B) China before 1979. C) Cuba. D) the United States.
Which one of the following is not an example of final goods in national income accounting?
A. Desktop computer purchased by an executive for business use B. Tractor purchased by a construction company C. Lumber and steel beams purchased by a construction company D. Laptop computer purchased by an executive for personal use