Which of the following will NOT cause a shift in the demand for portable power banks?
A) a change in taste
B) a change in income
C) a change in the price of portable power banks
D) a change in the price of smartphones
Answer: C
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When the aggregate supply curve shifts adversely, what happens to the relationship shown in the Phillips curve?
a. It is reinforced, and made more applicable for policy. b. It is destroyed, and no longer applies for policy. c. It is unchanged, although the curve becomes less steep. d. It is unchanged, although the curve shifts inward and to the left.
Mike's income is $600 per month. He spends all of it on books (B) and CDs (C). Books cost $10 and CDs cost $15. His preferences correspond to the utility function U(B,C) = B × C. For that utility function, the marginal benefit of books is C and the marginal benefit of CDs is B. How many books and how many CDs will he purchase in a month?
A. 20 CDs and 30 Books B. 60 CDs and 10 Books C. 15 CDs and 40 Books D. 30 CDs and 15 Books
For the Federal Reserve's balance sheet, the asset listed securities would include:
A. bonds issued by commercial banks. B. private and public debt. C. U.S. Treasury securities. D. mainly U.S. Treasury and municipal bonds.
There are several advantages that a market economy possesses. These do not include the fact that market economies:
A) tend to result in high living standards. B) tend to encourage greater economic growth. C) tend to prevent entrepreneurial activity that would result in large accumulations of wealth in the hands of a few people. D) none of the above is true