Demand is a schedule that shows
A) a set of possible prices for a good and the quantities of the good that will be purchased at each of those prices.
B) how much income it takes to afford various quantities of a good.
C) the relationship between the cost of producing a good and the price that sellers will charge.
D) how population changes will affect the amount of a good that is needed.
Answer: A
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Use the following table of U.S. balance of payments accounts to answer the next question.Current AccountFinancial AccountCapital AccountCreditDebitCreditDebitCreditDebit$45 billion$60 billion$72 billion$52 billion$7 billion$12 billionSuppose the U.S. exports $10 billion of coal to France. Which of the following statements is true?
A. The increase in the financial account credit of $10 billion will reduce the capital account credit by $2 billion and the current account credit by $8 billion. B. The increase in the capital account debit of $10 billion will increase the financial account debit by $10 billion as well. C. The increase in the current account debit of $10 billion will be offset by an increase in the capital account of $10 billion. D. The increase in the current account credit causes an increase in the financial and capital account surpluses of $5 billion each.
During 2010, a country reports that its price level fell and the money wage rate did not change. These changes led to
A) a lower real wage rate, lower profits, and a decrease in the quantity of real GDP supplied. B) a higher real wage rate, lower profits, and a decrease in the quantity of real GDP supplied. C) a higher real wage rate, higher profits, and an increase in the quantity of real GDP supplied. D) a lower real wage rate, higher profits, and an increase in the quantity of real GDP supplied. E) no change in the real wage rate and an increase in aggregate demand.
The aggregate expenditure model focuses on the short-run relationship between ________ and ________
A) unemployment; inflation B) planned inventories; unplanned inventories C) real spending; real GDP D) nominal spending; nominal GDP
Corporate profits are taxed twice because
A) taxes are collected on profits before profits are distributed to shareholders. B) the government wants to minimize the amount of tax paid on capital gains. C) it is economically efficient to reduce the amount of retained earnings. D) capital gains are not indexed to the rate of inflation.