A movement along the consumption function is caused by a change in:
a. consumption.
b. expectations.
c. aggregate supply.
d. disposable income.
d
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The loss to society resulting from a tax includes the
A) deadweight loss. B) consumer surplus paid to the government in the form of tax revenue. C) producer surplus paid to the government in the form of tax revenue. D) deadweight loss plus the consumer surplus and producer surplus paid to the government as tax revenue. E) deadweight loss minus the tax revenue collected by the government.
After Hurricane Sandy, FEMA (the Federal Emergency Management Agency) advertised in a New Jersey radio station how people affected by the hurricane could file for assistance
In the political marketplace, the decision makers in FEMA are best characterized as A) voters. B) firms. C) politicians. D) bureaucrats.
Suppose the Congress enacts a 5 percent decrease in annual military expenditures. Other things equal, this can be associated with:
a. a change in the slope of the aggregate demand curve. b. a leftward shift of the aggregate demand curve. c. a rightward shift of the aggregate demand curve. d. a movement down along the aggregate demand curve. e. a movement up along the aggregate demand curve.
Economist Robert Fogel has estimated that by the year 2040, individuals in the United States will be spending
A) more time in the workforce and more time in leisure activities than they do today. B) less time in the workforce and less time in leisure activities than they do today. C) more time in the workforce and less time in leisure activities than they do today. D) less time in the workforce and more time in leisure activities than they do today.