A shift in the supply curve of bicycles resulting from higher steel prices will lead to
a. higher prices of bicycles.
b. lower prices of bicycles.
c. a shift in the demand curve for bicycles.
d. larger output of bicycles.
e. no change in the price of bicycles.
a
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Which of the following taxes is always regressive?
a. a property tax b. an income tax c. a corporate tax on profit d. a 25 percent tax on overtime wages e. a $2 tax on a ticket to the movies
Human capital is:
A. the factories and machinery made by workers. B. the talents, training, and education of workers. C. the factories and machinery used by humans in the production process. D. the financial resources available to humans for investment.
If the MPC = 1, the spending multiplier is:
A. infinite. B. zero. C. 1. D. 10.