Economists refer to the pattern of income that people derive from different factors of production as the:
A. factor stream of income.
B. factor distribution of income.
C. expected future factor value.
D. factor price.
Answer: B
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Consider indifference curves for goods X and Y. Suppose we plot the quantity of good Y on the vertical axis and the quantity of good X on the horizontal axis
a. Why are indifference curves downward sloping? b. What is the economic interpretation of the slope of an indifference curve? c. Following what we learned in the Appendix to this chapter, indifference curves would flatten out as someone consumes more of good X and less of good Y. What are we assuming when we draw indifference curves that become flatter?
Refer to Figure 14.1. Other things equal, which of the following will cause a movement from point Y to point X?
A) an increase in the real interest rate B) a decrease in disposable income C) a decrease in expected profits for firms D) an increase in net exports
Mail-in ballots are designed to:
A. increase your ability to fulfill your civic duty. B. increase utility derived from voting. C. decrease the costs associated with voting. D. increase the accuracy voting process.
The most commonly held form of public debt is the
a. Treasury bond b. Treasury bill c. Treasury note d. savings bond e. savings bill