During most of the United States' involvement in World War II we temporarily operated at point
A. F.
B. G.
C. H.
D. I.
A. F.
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Figure 9.6 shows an individual's demand curve for time per month spent telecommunicating while driving (talking on the car phone.) A car phone is useless except for talking with somebody who is not in the car
If calls are priced at ten cents per minute, what is the consumer surplus derived from talking? What is the most this person would pay for the car phone? Explain.
Which of the following will shift the consumption function upward?
a. A tax increase. b. Higher capacity utilization rates. c. Higher disposable income. d. Lower wealth holdings. e. Expectations of inflation.
The business cycle that results from the election campaign of incumbent politicians is called a:
a. monetary business cycle. b. time consistent business cycle. c. political business cycle. d. real business cycle. e. historical business cycle.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.