In the recent Global Economic Crisis, the negative wealth effect from a 50 percent decline in the stock market caused
A) LM curve to shift to the right.
B) LM curve to shift to the left.
C) IS curve to shift to the left.
D) LM curve to shift to the right.
C
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In the political marketplace, voters do all of the following EXCEPT
A) benefit from public goods and services. B) pay some taxes. C) vote. D) evaluate policy proposals of bureaucrats.
Because of the flaws of the concentration ratio as a measure of the extent of competition in an industry, some economists prefer another measure of competition, the Herfindahl-Hirschman Index
Indicate whether the statement is true or false
Refer to Scenario 14.4. How much will the monopsonist pay each worker?
A) 0 B) 78 C) 83 D) 92 E) 100
Goods that are income elastic are often referred to as luxury goods
Indicate whether the statement is true or false