According to the quantity theory of money, a 10 percent increase in the money supply leads to a 10 percent increase in:
a. velocity.
b. unemployment.
c. the price level.
d. real GDP.
c
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The effect of a tax multiplier on aggregate demand is larger than that of the government spending multiplier
a. True b. False Indicate whether the statement is true or false
Demand for science fiction novels is elastic and supply of science fiction novels is inelastic. When the government puts a $2.00 tax on science fiction novels,
a. buyers will pay most of the tax. b. sellers will pay most of the tax. c. buyers and sellers will split the tax evenly. d. elasticity has nothing to do with who pays the tax.
Which one of the following statement is false?
A) Traditional and ecological economics may come up with different policy recommendations B) Most standard natural resource and environmental economics is an extension of microeconomic theory C) Cost-benefit analysis excludes the values of non-marketed goods D) Valuation techniques may be insufficient to capture the scope of global environmental problems
Which one of the following would not affect the position of the supply curve for cranberries?
A. the popularity of cranberry drinks B. the cost of fertilizers for cranberry production C. the number of sellers in the market D. development of a new pest control for cranberries