Refer to Figure 12.4. The increase in consumer wealth resulting from the housing bubble is best represented by a movement from
A) point A to point B.
B) point B to point D.
C) point D to point C.
D) point C to point A.
D
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If aggregate expenditures (AE) are less than aggregate output (real GDP), then firms will:
a. have unplanned inventory accumulation. b. earn above-average profits. c. expand production and hire more workers. d. be raising their prices.
An increase in a family's income will cause its budget line to
a. become steeper. b. become flatter (less steep). c. move closer to the origin. d. move away from the origin. e. become more convex toward the origin.
How were labor rights affected by the long economic depression of the 1930s?
a. Unions disbanded until the economy improved. b. Labor unions and reform movements stalled. c. New anti-labor reforms restricted union activities. d. Many important pro-labor reforms were passed.
If a dollar will currently purchase 120 Japanese yen but it is expected that one year from now a dollar will purchase 130 yen:
A. the demand for dollars now will decrease. B. the dollar is expected to depreciate. C. the demand for dollars now will increase. D. the yen is expected to appreciate.