Which point shows where the United States economy would have a 100 percent unemployment rate?
A. Point B
B. Point C
C. Point D
D. Point E
D. Point E
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Suppose ice cream cones costs $3 . Molly holds $60 . What is the real value of the money she holds?
a. $60 . If the price of ice cream cones rises, to maintain the real value of her money holdings she need to hold more dollars. b. $60 . If the price of ice cream cones rises, to maintain the real value of her money holdings she need to hold fewer dollars. c. 20 ice cream cones. If the price of ice cream cones rises, to maintain the real value of her money holdings she needs to hold more dollars. d. 20 ice cream cones. If the price of ice cream cones rises, to maintain the real value of her money holdings she needs to hold fewer dollars.
Equilibrium expenditure is defined as the level of aggregate expenditure where...
a) actual aggregate expenditure equals real GDP b) total inventories equal zero c) aggregate planned expenditure equals real GDP d) spending equals output
Stan complains to his roommate that he never has enough time to finish all the homework he's assigned, and his roommate tells him to quiet down because the first of the three movies they've planned to watch that day has begun. Stan's behavior demonstrates which economic concept?
A. time inconsistency B. chronologically challenged behavior C. rational behavior D. time allocation
When price was 10, quantity demanded was 50. When price decreased to 8, quantity demanded increased to 60. Therefore, when price decreased, total revenue
A. decreased from 500 to 480, indicating that demand is inelastic. B. decreased from 500 to 480, indicating that demand is elastic. C. increased from 480 to 500, indicating that demand is inelastic. D. increased from 480 to 500, indicating that demand is elastic.