Refer to the above figure. The figure represents the consumption function for a consumer. Point B represents
A) autonomous consumption.
B) positive saving.
C) negative saving.
D) zero saving.
C
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In the long-run ISLM model and with everything else held constant, the long-run effect of a contractionary fiscal policy is to ________ real output and ________ the interest rate
A) not change; not change B) decrease; decrease C) decrease; not change D) not change; decrease
Assume that Currency 1 appreciated in terms of Currency 2 . Which of the following statements is always true?
a. Currency 2 appreciated as well in terms of currency 1. b. Currency 2 may have appreciated or depreciated in terms of currency 1. c. Currency 2 depreciated in terms of currency 1. d. Currency 2 appreciated in terms of any currency. e. Currency 2 depreciated in terms of any currency.
The most detrimental effect of the 1999 repeal of the Glass-Steagall Act was that it
A. was a major contributor to the financial crisis of 2008. B. was a major detriment to mergers of financial institutions. C. American financial institutions were less able to compete with their European counterparts. D. increased the differentiation among banks, securities firms, and insurance companies.
The difference between what you pay for some good or service and what you would have been willing to pay is called ________________________.
Fill in the blank(s) with the appropriate word(s).