Refer to Figure 4-1. If the market price is $1.50, what is Arnold's consumer surplus?
A) $1.50 B) $2.25 C) $3.00 D) $4.75
A
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Use the above figure. The long-run Phillips curve is best depicted by graph
A) A. B) B. C) C. D) D.
According to the traditional (crowding-out) view, which of the following is most likely to result if a substantial portion of government expenditures is financed by borrowing rather than taxation?
a. no change in interest rates and an increase in saving b. higher interest rates and an outflow of foreign capital c. higher interest rates and a reduction in private domestic investment d. lower interest rates and an inflow of foreign investment
After a particular loan has been paid off, neither the borrower nor the lender has lost purchasing power. Therefore, it must be true that actual inflation was
What will be an ideal response?
Which of the following is counted as "capital" in economics?
A) the money people have B) the wealth people have C) the machines workers have to work with D) the labor force