Suppose we observe that both the equilibrium price of film cameras and the equilibrium quantity of film cameras have fallen. Which of the following could be responsible for this?
A) Consumers' preferences changed in favor of digital cameras.
B) technological advances in film camera production
C) Workers who make cameras received a pay raise.
D) The price of digital cameras increased.
A
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Wages in Baltonia are downwardly rigid. Which of the following will happen if a recession occurs in the country?
A) Employment will fall less than if wages were flexible. B) Unemployment will fall less than if wages were flexible. C) Employment will fall more than if wages were flexible. D) Unemployment will fall more than if wages were flexible.
If national income = $5,000 . autonomous consumption = $200, the MPC = 0.80, and intended investment demand is $800, then actual investment will
a. equal intended investment, and the economy will be in equilibrium b. be less than intended investment, and production and incomes will grow c. be greater than intended investment, and production and incomes will fall d. be less than intended investment, and production and incomes will fall e. be greater than intended investment, and production and incomes will grow
Corrective taxes are typically advocated to correct for the effects of
a. positive externalities. b. negative externalities. c. patents. d. All of the above are correct.
When banks are short on their reserves, they can either borrow from the ____ or from the ______.
Fill in the blank(s) with the appropriate word(s).