Changes in government spending are not likely causes of business cycles because changes in government spending predict
A) countercyclical real wages.
B) procyclical real wages.
C) countercyclical employment.
D) procyclical employment.
A
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It has been noted that when the price of a good increases, people purchase less of the good. This is an example of
A) macroeconomic analysis. B) irrational behavior. C) normative economic analysis. D) positive economic analysis.
If the Fed buys a U.S. government bond from a member of the public,
a. the banking system has more reserves and the money supply tends to grow. b. the banking system has less reserves and the money supply tends to grow. c. the banking system has more reserves and the money supply tends to fall. d. the banking system has less reserves and the money supply tends to fall.
Last year, Joan bought 50 pounds of hamburger when her household's income was $40,000 . This year, her household income was only $30,000 and Joan bought 60 pounds of hamburger. All else constant, Joan's income elasticity of demand for hamburger is
a. positive, so Joan considers hamburger to be an inferior good. b. positive, so Joan considers hamburger to be a normal good and a necessity. c. negative, so Joan considers hamburger to be an inferior good. d. negative, so Joan considers hamburger to be a normal good but not a necessity.
Which list has market structures in the correct order from the most to the least market power?
a) Oligopoly, perfect competition, monopolistic competition, monopoly b) Monopoly, oligopoly, monopolistic competition, perfect competition c) Perfect competition, oligopoly, monopolistic competition, monopoly d) Monopoly, monopolistic competition, oligopoly, perfect competition