A decrease in the price of driver liability insurance will ________ the ________ for new automobiles
A) decrease; demand
B) increase; demand
C) decrease; supply
D) increase; supply
E) None of the above is correct.
B
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The table above shows three production methods to produce 100 automobiles per day. If the price of labor is $20 per unit and the price of capital is $100 per unit, which of the three methods is economically efficient?
A) Method A only B) Method B only C) Method C only D) All three methods are economically efficient.
Milton Friedman concluded that we have never had a serious inflation that was not accompanied by ___________.
Fill in the blank(s) with the appropriate word(s).
In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Induced expenditure equals:
A. 320 + 0.25Y. B. 0.75Y. C. 290 + 0.75Y. D. 0.25Y.
Based on wage setting behavior, we know that an increase in the unemployment rate will cause
A) no change in the real wage. B) a reduction in the real wage. C) an increase in the real wage. D) an upward shift of the WS curve.