What country is the largest holder of foreign debt in the world?
A. U.S.A
B. China
C. Germany
D. United Kingdom
E. Russia
China
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When a demand schedule is drawn in a graph: a. price is measured on the vertical axis
b. quantity is measured on the horizontal axis. c. other variables are held constant. d. all of the above are correct.
A leftward shift in supply could be caused by: a. an improvement in productive technology. b. a decrease in income
c. some firms leaving the industry. d. a fall in the price of inputs to the industry.
Which of the following statements is true?
a. When a change in income causes consumption to change, the consumption-income line shifts; however, when anything besides income changes, we move along the line. b. When a change in income causes consumption to change, we move along the consumption-income line; however, when anything besides income changes, the line shifts. c. When income or anything else affecting consumption changes, we move along the consumption-income line. d. When income or anything else affecting consumption changes, the consumption-income line shifts. e. There is no way to determine, without more information, whether a change in income or anything else will shift the consumption line or cause movement along the consumption-income line.
A decline in real income
a. can occur only if there is a decline in nominal income b. can occur only if there is an increase in the price level c. can occur only if there is either a decline in nominal income or an increase in the price level d. cannot occur if there is either an increase in nominal wages or a decline in the price level e. can occur only if there is a decline in the price level