Which of the following is not a final good or service?
A. The salsa you use while watching football on the weekend.
B. A notebook for your college courses
C. A gallon of milk for your breakfast cereal
D. The cheese on the pizza you bought from Domino's
Answer: D
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An autonomous monetary policy easing reduces real interest rates and raises aggregate output ________ and the inflation rate rises ________
A) temporarily; permanently B) permanently; temporarily C) permanently; permanently D) temporarily; temporarily
In response to the financial crisis which followed the housing bubble collapse, policy-makers feared stimulating demand would cause:
A. hyperinflation. B. deflation. C. inflation. D. stagflation.
Recall the Application about the decrease in price of illegal drugs in the United States to answer the following question(s).Recall the Application. If it is not known whether the decrease in price of illegal drugs is primarily due to a change in supply, a change in demand, or equal changes in both, the equilibrium quantity of drugs:
A. will increase. B. will decrease. C. will not change. D. may or may not change.
If a consumer is initially at an optimum, and then the price of X falls, then
A) MUX/PX > MUY/PY. B) MUX/PX < MUY/PY. C) MUX/PX = MUY/PY. D) MUX/MUY < PY/PX.