Facing choices between beer and pizza, the number of pizzas a consumer would be willing to trade for just one beer is called
a. the marginal value of beer in terms of pizza.
b. the marginal value of pizza in terms of beer.
c. the demand for beer.
d. an undesirable trade.
a. the marginal value of beer in terms of pizza.
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Aggregate demand ________ if the expected inflation rate increases because ________
A) increases; people expect to receive cost of living raises as the inflation begins B) does not change; inflation does not affect the aggregate demand curve C) increases; people want to make purchases now before the price of goods and services begin to increase D) decreases; people wait for the exchange rates to change before making purchases E) decreases; people want to wait for the price of goods and services begin to decrease
U.S. consumers would be better off if they bought only U.S.-produced goods
a. True b. False
A “single tax” on land was proposed in the nineteenth century by
A. Lloyd George. B. Henry George. C. George Washington. D. George Sands.
The Environmental Protection Agency was established by the ______.
a. Endangered Species Act of 1973 b. Environment Act of 1986 c. Clean Air Act of 1970 d. Civil Rights Act of 1964