The law of demand implies that, other things remaining the same
A) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will increase.
B) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will decrease.
C) as income increases, the quantity of cheeseburgers demanded will increase.
D) as the demand for cheeseburgers increases, the price of a cheeseburger will fall.
B
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Which of the following statements about the public debt is TRUE?
A) It is equal to the budget deficit. B) It decreases when the government runs a budget deficit. C) It is a stock variable. D) all of the above
Which of the following shifts the demand curve for movies rightward?
A) an increase in the price of NetFlix, a substitute for movies B) an increase in the price of movie tickets C) a decrease in the price of move tickets D) an increase in movie star salaries E) an increase in the price of HDTV sets
Lower personal income taxes
A) decrease disposable income. B) decrease aggregate demand. C) increase transfer payments. D) increase aggregate demand.
During your foreign travel in South Asia, you acquired an expensive, elaborately woven textile, size 1 meter by 2 meters. At customs as you are returning to your home, the official asks if it is a rug or a decorative wall hanging. What do you reply?