Domestic income has a ________ relationship with net export spending.
A. constant
B. positive
C. secondary
D. negative
Answer: D
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The price of house paint, a normal good, has gone up. This change can be shown graphically as a:
A. shift in the demand curve to the right. B. shift in the demand curve to the left. C. movement along the demand curve to the right. D. movement along the demand curve to the left.
Rachel agrees to lend Phoebe $100 for six months and charges her interest of 2 percent. At the end of the six-month period, prices have risen by 4 percent
a. Purchasing power has been redistributed to Rachel. b. No purchasing power has been redistributed. c. Purchasing power has been redistributed to Phoebe. d. Both Rachel and Phoebe received extra purchasing power.
Refer to the information provided in Figure 5.6 below to answer the question that follows.
Figure 5.6Refer to Figure 5.6. The market is initially in equilibrium at the intersection of the demand curve and supply curve S2. If supply shifts from S2 to S1, which of the following statements is true?
A. Price will still serve as a rationing device causing quantity demanded to rise from 10 to 12 pizzas. B. There is no need for price to serve as a rationing device in this case because the new equilibrium quantity is less than the original equilibrium quantity. C. The market cannot move to a new equilibrium unless demand shifts at the same time that supply shifts. D. Price will still serve as a rationing device causing quantity supplied to exceed 12 pizzas.
A World View article, "Glaring Inequalities," says that income inequality tends to diminish as a nation develops. The distribution of income answers the ________ question.
A. FOR WHOM B. WHY C. WHERE D. HOW MUCH