If people begin to favor science fiction novels to a greater degree than previously, the demand curve for science fiction novels
A) shifts rightward.
B) shifts leftward.
C) stays constant.
D) can shift either rightward or leftward.
A
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The reason we are willing to accept money with no intrinsic value is that
A) the money supply is backed by an equal amount of gold and silver. B) we have a fiduciary monetary system in which currency has both acceptability and predictability of value. C) the value of the money varies directly with changes in the price level. D) paper currency may be exchanged for full-bodied money.
Benjamin works as an economist for the federal government. Which of the following questions is he trying to answer as part of his job?
a. How can I communicate more effectively? b. What is the difference between artificial intelligence and emotional intelligence? c. How can government officials get themselves re-elected to office? d. What is the correlation between race and class? e. How do people use limited resources to try to satisfy unlimited wants?
A trough is the
A) lower turning point of a business cycle when an expansion begins. B) lower turning point of a business cycle when a recession begins. C) upper turning point of a business cycle when an expansion begins. D) upper turning point of a business cycle when a recession begins.
Next year's expected price of oil is $88 per barrel and the interest rate is 10 percent per year. According to the Hotelling Principle the price of oil this year is
A) $80 per barrel. B) $88 per barrel. C) $96 per barrel. D) None of the above answer is correct.