Economic growth was stimulated by suburbanization
A. in the first five years after World War II.
B. in the 15 years following World War II.
C. from the mid 1960s to the mid 1970s.
D. after the Persian Gulf War.
B. in the 15 years following World War II.
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A consumer has $20 that he wants to spend on two goods: pens priced at $2 each, and pencils priced at $1 each. Which of the following correctly represents his budget constraint?
A) $20 = ($2/Quantity of pens) + ($1/Quantity of pencils) B) $20 = ($2 × Quantity of pens) + ($1 × Quantity of pencils) C) $20 = ($3/Quantity of pens + Quantity of pencils) D) $20 = $3 × (Quantity of pens - Quantity of pencils)
The above figure shows one of Sam's indifference curves between gasoline and coffee. Which of the following about a movement along Sam's indifference curve is CORRECT?
A) As he moves leftward along the curve, he likes the combinations of gasoline and coffee better and better. B) As he moves rightward along the curve, he likes the combinations of gasoline and coffee better and better. C) He likes all combinations of gasoline and coffee along the curve equally well. D) None of the above is true.
If the slope of the rays from the origin to the total variable cost curve declines along the curve, it implies:
a. the average variable cost is falling. b. the marginal cost is falling. c. the average variable cost is rising. d. the marginal cost is rising.
If government spending is used to bolster the level of economic activity, the type of financing available to the U.S. government that would increase aggregate spending the most is
a. taxation. b. borrowing from the public. c. borrowing from banks. d. printing money.