Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example?
a. time-series forecasting techniques
b. barometric techniques
c. survey techniques and opinion polling
d. econometric techniques
e. input-output analysis
c
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Which of the following will lead to a decrease in the price of existing bonds?
A) a decrease in the rate of interest B) a reduction in the money supply C) an inward shift in money demand D) a decrease in planned investment spending
A consumer's total utility is maximized when the total utility per dollar from all goods is equalized
Indicate whether the statement is true or false
Which of the following is a normative macroeconomics statement?
A) The central bank should increase the nation's money supply. B) The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. C) Ford Motor Company's new advertising campaign ended up hurting General Motors' sales. D) The local government ought to spend more on recreational facilities.
The number of unskilled workers employed before and after a change in the minimum wage is found to be the same. This means
A) the minimum wage change did not affect the unskilled labor market. B) nothing, unless we also know that the number of hours worked by each worker has not changed. C) the minimum wage could be below the equilibrium wage for unskilled labor. D) either b or c E) none of the above