Inventories refer to
A) goods that have been planned but not yet produced.
B) goods that have been produced and sold in the same year.
C) goods which have been presold before they are produced.
D) goods that have been produced but not yet sold.
D
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Which of the following changes aggregate supply and shifts the AS curve? i. a change in the price of a major resource ii. increases in the amount of capital iii. a change in the money income of consumers
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
Economics is the study of
a. how to make money. b. choices in a world of scarcity. c. how to distribute unlimited production among limited wants. d. All of the above.
What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work. B. All of our jobs have been shipped overseas. C. Tax cuts on the property owners and high income citizens. D. High cost of health care.
The wealth effect is
A. the result of wealthy people increasing the savings. B. the increase in savings and consumption resulting from increases in residential house prices and gains in the stock markets. C. the increase in the number of wealthy individuals in a country. D. the result of large increases in the balance sheets of the banks.