For a normal good, an increase in consumer income will lead toI.a movement down the demand curveII.a rightward shift in the demand curveIII.a reduction in supply
A. I only.
B. II only.
C. III only.
D. both II and III.
Answer: B
You might also like to view...
Output per worker must be ________ output per person.
A. less than or equal to B. no more than half the size of C. equal to D. greater than or equal to
Real GDP is the value of goods and services
A) adjusted only for unanticipated inflation. B) adjusted only for anticipated inflation. C) using base-year prices. D) using current-year prices.
Which of the following would be the best choice for a government that wishes to reduce the natural rate of unemployment?
a. Reducing investments in education that will decrease the productivity of workers b. Imposing laws that will protect workers from getting laid off c. Providing unemployment benefits for a prolonged period of time d. Adopting measures that encourage new businesses to start and expand
If each unit of capital lasts an average of 25 years, then for an economy with a capital stock worth 5 times the annual GDP, approximately what percentage of output must be set aside to replace depreciation?
a) 5% b) 10% c) 20% d) 25% e) 30%