Which of the following will lead to a movement along the same demand curve?
a. Changes in income.
b. Changes in the price of substitute goods.
c. Changes in the price of the product.
d. Changes in the preference of the consumer.
c
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The ________ problem of discretionary policy arises because economic behavior is influenced by what firms and people expect the monetary authorities to do in the future
A) moral hazard B) time-inconsistency C) nominal-anchor D) rational-expectation
A prominent aspect of the recent Great Recession, but not of the Great Depression of the 1930s, is ________
A) bank panics B) mortgage defaults C) an increase in the credit spread D) nonconventional monetary policy
A good produced in Japan and sold to Korea
a. is a Korean export and Japanese import b. is a Korean import and Japanese export c. implies that Japan has an absolute advantage in the production of the good d. implies that Korea has a comparative advantage in the production of the good e. implies that Korea has an absolute advantage in the production of the good
The Lorenz curve showing perfect income equality would be
A. I.
B. J.
C. K.
D. L.