What was the per capital income level for the United States in 2011?
a. $28,100
b. $38,100
c. $48,100
d. $58,000
c
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As the multiplier process works through time, the size of the multiplier effect becomes
a. larger. b. smaller. c. constant. d. explosive.
Demand is the relationship between price and:
a. the income of individual consumers. b. the quality of the good. c. the quantity consumers are willing and able to buy. d. the amount spent on advertising the good.
In Europe during the 14th century, the Black Plague killed 24 million people or close to 37 percent of the population. How would this affect the production possibilities curves for the countries of Europe at that time?
A. The production possibilities curves for these countries would have shifted outward. B. The production possibilities curves for these countries would have shifted inward. C. The production possibilities curves for these countries would have been unaffected. D. This would have been illustrated by a movement along the production possibilities curves for these countries, but it would not have shifted them.
If the price of DVD rentals doubles, the quantity demanded will _____ and the quantity supplied will _____.
Fill in the blank(s) with the appropriate word(s).