The financial crisis that started in 2007 was unusual because it started in an advanced economy, the United States
Indicate whether the statement is true or false
TRUE
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Which of the following is a supply shock?
a. A decrease in money demand b. An increase in the money supply c. An increase in investment spending d. A change in oil prices e. A change in taxes
When the indifference curve is tangent to the budget constraint,
a. a consumer cannot be made better off without an increase in her income or a price decrease in one of the goods she consumes. b. the consumer is likely to be at a sub-optimal level of consumption. c. income is at its optimum for a consumer. d. indifference curves are likely to intersect.
If you wanted to measure whether the output of an economy was increasing or decreasing across time periods, you would use the real GDP data rather than the nominal GDP data because
What will be an ideal response?
Suppose that a car was produced but not sold in 2013. The car could still be sold in 2014. According to the book, the car would be counted as part of:
A. 2013 GDP as investment. B. 2014 GDP, as consumption. C. 2014 GDP as investment. D. neither 2013 or 2014 GDP.