The Obama stimulus plan's requirement that projects be "shovel-ready" was designed to combat
A. The political business cycle.
B. The administrative lag.
C. The recognition lag.
D. The operational lag.
Answer: D
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Which of the following results in a movement along the supply curve of spinach but does not shift the supply curve of spinach?
A) disastrous weather that destroys half of this year's spinach crop B) a rise in the price of spinach C) an increase in wages for workers in spinach fields D) great weather that produces a bumper spinach crop this year
Increased specialization in the computer industry is evidenced by
(a) the types of government policies implemented to aid the computer industry. (b) the growth of the software industry. (c) the growth of the manufacturing industry. (d) the growth of agriculture.
Which of the following is an example of the law of demand?
A) A decrease in the price of milk is followed by an increase in milk purchases. B) A decrease in the price of milk is followed by a decrease in milk purchases. C) An increase in the price of milk has no effect on the amount of milk purchased. D) The amount of milk purchased increases when the price is constant.
An indifference curve shows _____
a. the relationship between total and marginal utility b. the relationship between the quantity of a good and the maximum attainable satisfaction c. the various combinations of two goods that give a consumer the same amount of satisfaction d. the relationship between the price and quantity of a good that a consumer is able to purchase e. that the quantities of a good that give a consumer maximum satisfaction are directly related to price