Suppose the price of crude oil used to produce gasoline rises significantly. At the same time, consumers purchase electric cars in great numbers. In the market for gasoline, demand shifts to the ________ and supply shifts to the ________.
A. left, right
B. right, left
C. right, right
D. left, left
Answer: D
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Transfer payments are
a. payments made to individuals who are employed by the government. b. payments made to individuals who provide goods and services to the government. c. transfers of income from taxpayers to recipients who do not provide current goods and services for the payments. d. omitted from the government expenditure figures.
A tax on sellers shifts the supply curve to the left
a. True b. False Indicate whether the statement is true or false
In the economy of Talikastan in 2015, consumption was $3000, exports were $1200, GDP was $8000, government purchases were $1200, and imports were $600 . What was Talikastan's investment in 2015?
a. $3200 b. $5600 c. $2000 d. $4400
Liquidity preference refers to
A) Keynes' name for the demand for money. B) the "random walk" behavior of consumption spending. C) monetarists explanations for stagflation. D) real business cycle theorists' explanations for stagflation. E) the controversy sparked by the Lucas critique.