Using the information contained in Situation 20-1, if autonomous consumption increases by $100, then equilibrium aggregate output will change by
A) -$1,000.
B) -$100.
C) $100.
D) $1,000.
D
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Tommy spends most of his monthly budget on $3 video game rentals or $6 packets of baseball cards. The opportunity cost to Tommy of an extra packet of baseball cards is
A. one video game rental. B. two video game rentals. C. the cost of the baseball cards. D. he does not incur an opportunity cost.
Figure 3-6
In Figure 3-6, assume this economy is currently operating at point D. What is the opportunity cost of moving to B?
A. About 200 bushels of wheat B. 200 bushels of soybeans C. Infinite, B cannot be produced at any cost. D. 0
Your checking account balance is included in your bank's assets
Indicate whether the statement is true or false
In the money market, an excess supply of money is equivalent to an excess supply of bonds
Indicate whether the statement is true or false