If a certain type of clothing becomes more fashionable, we would expect that its price
a. will decrease and quantity will remain constant
b. and quantity will both decrease
c. will increase and quantity will decrease
d. will decrease and quantity will increase
e. and quantity will both increase
E
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If the budget deficit is $50 billion and the structural deficit is $10 billion, the cyclical deficit is
A) $10 billion. B) $60 billion. C) $50 billion. D) $40 billion. E) More information is need to answer the question.
If your bank receives a demand deposit of $4,000 and the legal reserve requirement is 20 percent, then it can make additional loans of
a. $800 b. $3,200 c. $4,000 d. $16,000 e. $20,000
That part of the deficit that results from a downturn in economic activity is called the __________ deficit
A) net B) gross C) cyclical D) structural
If the cost of the negative pollution externality was added to the marginal cost of production, the true cost curve would be
A. above the marginal cost curve for production only. B. vertical. C. steeper than the marginal cost curve for production only. D. to the right of the marginal cost curve for production only.