Another term often used to refer to family wealth is:
A. Income
B. Net worth
C. Salary and wages
D. Spending
B. Net worth
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When the price of an inferior good falls, the substitution effect leads to ________ in the quantity purchased and the income effect leads to ________ in the quantity purchased
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Since the 1980s,
a. monetarism reached its peak. b. the influence of the monetarists and Keynesians both eroded. c. monetarism re-established itself with a stable money/income relationship. d. monetarism declined in influence as Keyesian thought overtook it in influence.
By 1825, which area in the New World had the greatest portion of slaves?
a. Spanish colonies b. The West Indies c. The United States d. Brazil
The economy is:
A. complex, and it operates under uncertain rules. B. complex, though it operates under clear rules. C. simple, and it operates under clear rules. D. simple, though it operates under uncertain rules.