According to economists, how does an increase in the inflation rate affect the consumption function?
a. It shifts the function upward.
b. It shifts the function downward.
c. It causes movement upward along the function.
d. It causes movement downward along the function.
e. It has no predictable effect on the function.
b
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One of the conditions that must exist for the median-voter theorem to hold is:
A. there is a simple in-favor/not-in-favor position held by each candidate. B. candidates win by majority vote. C. there must be a run-off election in the event of a tie vote between two or more candidates. D. voters may vote for a policy even if it not close to their own beliefs.
If you presently have $50,000 saved and earn 15 percent interest per year, about how many years will it take for your investment to triple?
a. 6 b. 8 c. 10 d. 12
Changes in the price of an input cause:
A. isoquants to become steeper. B. parallel shifts of the isocost lines. C. changes in both the isoquants and isocosts of equal magnitude. D. slope changes in the isocost line.
In 1995, the United States threatened to impose 100 percent tariffs on ________ from ________ if it didn't loosen its protectionist policies.
A. luxury cars; Japan B. auto parts; Japan C. brandies; France D. light trucks; Germany