The consumption function relates consumption spending to _____
a. the price level
b. interest rates
c. disposable income
d. expectations about the price level
e. household wealth
c
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Data on wages, education, and many other characteristics of the population that are available to anyone who wants to use it are called:
A) private-use data. B) public-use data. C) primary data. D) secondary data.
Country X imports rice from the world market. Which of the following policy instruments, if adopted by its government, may result in a switch from rice being imported to being exported?
A. Division of land holdings B. An agricultural price support that includes the government selling any excess production to foreign buyers C. Taxing imports of agricultural inputs D. An agricultural price ceiling that creates domestic excess demand
Which of the following is NOT associated with the new growth theory?
A. technology B. research C. natural resources D. innovation
Under the gold standard, a country with a negative balance of trade would experience
A. an inflow a gold and higher prices. B. an inflow of gold and lower prices. C. an outflow of gold and higher prices. D. an outflow of gold and lower prices.