In comparing the views of economists on stabilization policy in the 1960s with the current views of economists on stabilization policy, one can say
A) few economists in the 1960s favored stabilization policy, while most economists currently favor stabilization policy.
B) economists' views on stabilization policy have changed very little since the 1960s.
C) fewer economists currently believe it is possible to use stabilization policy to fine-tune the economy than in the 1960s.
D) almost no economists in the currently believe stabilization policy should be used.
C
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Assume that the quantity consumed of pizza is dependent on three factors: the price of a pizza, the income of pizza purchasers, and consumers' taste for pizza
When graphing the relationship between the price of a pizza and the quantity of pizza consumed A) the price of a pizza and the income of pizza consumers are the only variables that are allowed to change. B) the price of pizza and quantity consumed of pizza are the only variables that are allowed to change. C) consumers' taste for pizza and the income of pizza purchasers are the only variables that are allowed to change. D) None of the above answers are correct.
If an economy is operating at a point inside the production possibilities curve,
a. its resources are not being used efficiently. b. the curve will begin to shift inward. c. the curve will begin to shift outward. d. This is a trick question because an economy cannot produce at a point inside the curve.
If resource A and resource B are substitutes of each other and the price of resource A increases, then:
a. the price elasticity of demand for resource B will increase. b. the demand for resource A will increase. c. the demand for resource B will increase. d. the price elasticity of demand for resource B will decrease. e. the demand for resource B will decrease.
YearCPI2010952011100201210520131042014106According to the table shown, what can be said about the cost of living in 2010?
A. People experienced a decrease in the cost of living because the CPI is less than 100. B. It was lower than in the base year. C. People experienced an increase in the cost of living because the CPI isn't over 100. D. There must have been a recession because the CPI is less than 100.