Which of the following statements is FALSE?
A. consumption = saving - disposable income
B. consumption + saving = disposable income
C. saving = disposable income - consumption
D. disposable income - saving = consumption
Answer: A
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In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future Consequently, in the current market for peanut butter there was ________ which resulted in a ________ in the price of peanut butter and ________ in the quantity of peanut butter.
A) a decrease in supply of peanut butter and an increase in demand for peanut butter; rise; an increase, decrease or possibly no change B) a decrease in supply of peanut butter and a decrease in demand for peanut butter; rise, fall, or possibly no change; a decrease C) an increase in supply of peanut butter and a decrease in demand for peanut butter; fall; an increase, decrease or possibly no change D) a decrease in supply of peanut butter and an increase in demand for peanut butter; fall; an increase, decrease or possibly no change
Engerman's (1971) studies of the Civil War (1861–1865)'s impact on industrialization
(a) support the previous work of Hacker and Beard. (b) showed that the War sped up the ongoing processes of industrialization. (c) showed that the War effort slowed down industrialization. (d) restricted the real cost of the War to the South.
All of the following cause a shift in the demand curve EXCEPT a change in the
A) price of related goods. B) price of the good or service. C) consumer income. D) number of consumers.
Total cost includes:
A. only ongoing expenses, not one-time expenses. B. one-time expenses, but not ongoing expenses. C. only expenses that are variable. D. one-time expenses and ongoing expenses.