PXX + PYY = M is called:
A. an indifference curve.
B. a budget set.
C. a budget line.
D. an opportunity set.
Answer: C
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What will be an ideal response?
One problem with the unemployment rate is that:
a. discouraged workers are included in the calculation. b. the data includes part-time workers as fully employed. c. underemployment is measured in the calculation. d. all of these are problems.
Using the multiplier effect, if the government increases purchases of transportation equipment by a certain amount, then total purchases for the economy will ______.
a. decrease by that amount b. also increase by that amount c. increase by more than that amount d. decrease by more than that amount
Banks can increase the supply of money
A. only by increasing the currency in the hands of the public. B. only by increasing the checking deposits held by the public. C. by increasing both the currency and the checking deposits in the hands of the public. D. neither by increasing the currency nor the checking deposits in the hands of the public.