Which of the following would most likely cause the demand for veggie-burgers to increase?
a. A decline in the price of veggie-burgers
b. An increase in the price of tofu-burgers, perceived as a substitute for veggie-burgers
c. An increase in the price of burger buns
d. A decline in the prices of some of the vegetables used for the burger
b
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Use the following table to answer the next question. All figures in the table below are in billions of dollars.RGDPAggregate Expenditures (Closed Economy - No International Trade)ExportsImports$400$440$50$60450480506050052050605505605060600600506065064050607006805060If this economy were closed to international trade, then the equilibrium real GDP would be ________ billion and the multiplier would be ________.
A. $600;5 B. $600;4 C. $500;5 D. $500;4
Ignoring any supply-side effects, how does the magnitude of the government expenditure multiplier compare to the magnitude of the tax multiplier? Explain your answer
What will be an ideal response?
In a free market there are virtually no restrictions, or at best few restrictions on how factors of production can be employed
Indicate whether the statement is true or false
Michael Woodford says the following is an advantage of interest-rate instruments for central banks
A) Conduct monetary policy without inflation. B) Conduct monetary policy even if checking deposits pay interest at competitive rates. C) Conduct monetary policy without government approval. D) Conduct monetary policy with consumers in mind. E) Conduct monetary policy with workers in mind.