If policies of the Fed cause the money supply to increase, and velocity is held constant, the expected outcome would be:
a. P Q would increase, and the general price level would increase if Q remained constant.
b. P Q would decrease, and the general price level would decrease if Q remained constant.
c. P Q would decrease, and the general price level would increase if Q increased
d. insufficient information is available to arrive at a conclusion.
a
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If the poorest 80 percent of the population receives 75 percent of the income, then the
a. richest quintile receives 20 percent of the income b. Lorenz curve lies on the diagonal c. richest quintile receives 25 percent of the income d. poorest quintile receives 25 percent of income e. poorest quintile receives 75 percent of the income
The term tax incidence refers to
A. widespread view that taxes (and death) are the only certainties in life. B. whether the demand curve or the supply curve shifts when the tax is imposed. C. the distribution of the tax burden between buyers and sellers. D.whether buyers or sellers of a good are required to send tax payments to the government.
On what aspect of policymaking, according to Robert Lucas, have policymakers been shortsighted in the past?
What will be an ideal response?
If mayonnaise and Miracle Whip are substitutes, then which of the following would increase the demand for Miracle Whip?
a. a decrease in the price of Miracle Whip
b. an increase in the price of mayonnaise
c. a decrease in the price of mayonnaise
d. Both a and b are correct