Which of the following shifts the supply curve of broccoli?
A) an increase in income
B) a newly discovered increase in the nutritional value of broccoli
C) a newly discovered link between broccoli consumption and tooth decay
D) the destruction of much of this year's broccoli crop by hurricanes
D
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The United States first became a creditor nation in the year _______.
Fill in the blank(s) with the appropriate word(s).
If President Obama wanted to decrease aggregate demand, which of the following would he tend to favor?
A. An increase in government spending, because it will increase the size of the public sector. B. A decrease in government spending, because it keeps the public sector small. C. An increase in transfer payments, because it has a larger multiplier than tax changes. D. An increase in taxes, because it would not make the public sector smaller.
If individuals' demand in the marketplace does not reflect their true welfare:
A. the market result will be inefficient. B. total surplus will be maximized. C. consumer surplus will be negative. D. the market result will still be efficient.
According to the "endowment effect:"
A. people are willing to pay more for things they don't own than they would have to receive to give up something they already have. B. people feel gains and losses with equal intensity. C. people assign higher values to things they own than things they don't. D. the intensity of feelings from gains and losses depends on how much wealth one possesses.