The textbook presents the movement of rush-hour traffic as an example of social
A) chaos.
B) competition.
C) conflict.
D) confusion.
E) cooperation.
E
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Automatic stabilizers include
A) changes in induced taxes and changes in needs-tested spending. B) increases or decreases of tax rates and changes in needs-tested spending. C) changes in induced taxes and changes in discretionary spending. D) changes in discretionary spending and changes in needs-tested spending. E) changes in the federal funds interest rate brought about by Fed policy.
Suppose that reduced barriers to international financial transactions cause an increase in the economy's supply of capital. Explain, step-by-step, how the economy adjusts to arrive at a new long-run equilibrium
What will be an ideal response?
Consumer equilibrium occurs at:
a. any point of intersection between the budget line and an indifference curve. b. a point of tangency between the budget line and an indifference curve. c. the point where the slope of the indifference curve equals the ratio of the quantities. d. a point where the budget line cuts the curve from below.
The classical quantity theory of money states that
A. money is a medium of exchange necessary for the efficient functioning of the economy. B. increases in the stock of money result in greater increases in the price level. C. decreases in the stock of money increase the price level. D. increases in the stock of money result in proportionate increases in the price level.