The consumption function will shift for all of the following reasons except:
a. a change in a household's real assets.
b. a change in interest rates.
c. expectations of price changes.
d. changes in a household's disposable incomes.
e. changes in taxation policy.
d
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The rate of unemployment is found by
A) dividing the number unemployed by the number of people in the labor force. B) dividing the number employed by the number of people in the labor force. C) dividing the number unemployed by the number employed. D) dividing the number employed by the number unemployed.
Which of the following is a primary objective of macroeconomic policy?
A) achieving a zero rate of unemployment B) achieving a zero rate of inflation C) stabilizing economic activity D) all of the above E) none of the above
The classical economists believed that
a. labor supply is upward sloping because the income effect is greater than the substitution effect. b. labor supply is upward sloping because the substitution effect is greater than the income effect. c. labor supply is downward sloping because the income effect is greater than the substitution effect. d. in equilibrium, the marginal product of labor must exceed the real wage. e. both b and d.
Isocost lines associated with ______ total cost lie ______ the origin.
A. lower; farther from B. higher; farther from C. higher; closer to D. sunk; closer to