What is a good historical example of when the Fed created a recession to reduce inflation expectations?
a. In the early 1980s
b. In the early 1960s
c. During the Great Depression
d. In the late 1920s
e. During World War II
A
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The figure above shows the demand for fruit snacks. Which movement reflects how consumers would react to an increase in the price of a fruit snack that is expected to occur in the future?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
Sustainable development means
(a) emphasizing the role of the market. (b) emphasizing the role of government. (c) meeting the present generation's needs without compromising the needs of future generations. (d) maintaining output growth at a constant rate.
For most consumer goods, the price elasticity of demand is
A) negative only when price decreases. B) negative regardless of the direction of the price change. C) positive only when price decreases. D) positive regardless of the direction of the price change.
Other factors held constant, if there are few close substitutes for a good, demand is more elastic for it
a. True b. False Indicate whether the statement is true or false