Income mobility
a. is a term used to characterize the ease of establishing residence or a business in a new area of the country.
b. has increased in recent years because of reductions in transportation cost.
c. is the term used to describe the movements up and down the economic ladder.
d. is present only when the general level of prices is rising.
C
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In the figure above, which of the following is true?
i. Governments coordinate economic activities of households and firms. ii. Governments buy goods and services in goods markets. iii. Households pay taxes directly to firms. A) i and ii B) only i C) only iii D) ii and iii E) only ii
If the government provides a subsidy to producers, what is the effect of this policy in a supply and demand diagram?
A) The demand curve shifts leftward and the price rises. B) The supply curve shifts rightward and the price falls. C) The supply curve shifts leftward and the price falls. D) The supply curve shifts leftward and the price rises. E) The demand curve shifts rightward and the price rises.
One macroeconomic goal is to achieve an unemployment rate of zero
a. True b. False
Which of the following is not an example of derived demand?
a. More people want to plant gardens in the spring; therefore, demand for hoes and shovels increases then. b. Strong ticket sales for a concert cause the producers to schedule an extra show and demand more ushers. c. Increased use of robots leads to a decrease in demand for labor. d. The development of alternative fuels made from corn leads to an increase in demand for corn. e. Increasing demand for music leads to the construction of more recording studios.