Which of the following are TRUE regarding "positive" statements? I. They describe what "ought to be." II. They describe what is believed about how the world appears. III. They can be tested as to their accuracy
A) I and II
B) II and III
C) I and III
D) I, II and III
B
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Everything else held constant, if a factor increases the demand for ________ goods relative to ________ goods, the domestic currency will appreciate
A) foreign; domestic B) foreign; foreign C) domestic; domestic D) domestic; foreign
If a yet-to-be released video game receives a positive review in a popular gaming magazine, what happens to the demand curve for the video game?
A) The demand curve is expected to shift to the right. B) The demand curve is expected to shift to the left. C) The demand curve is not expected to change. D) For those who read the review, demand shifts to the left. For those who don't read the review, demand shifts to the right.
If the money supply in the economy were at MS2, and the Federal Reserve Bank used open market operations to move money supply to MS1 the overall result in the economy would be:
A. Aggregate demand shifted in, causing GDP to fall.
B. Aggregate supply shifted in, causing GDP to fall.
C. Aggregate demand shifted out, causing GDP to rise
D. LRAS move to the FE level of output.
Which of the following is NOT a possible solution to the problem of pollution?
A) subsidizing the costs of production of activities that generate pollution B) converting a resource that is communally owned into a privately owned resource C) regulating the quantity of pollution that can be generated D) imposing a pollution tax on producers