If the unemployment rate decreases from 9% to 6%, the economy will
A. move closer to a point on the ppf.
B. remain on the origin.
C. move away from the ppf toward the origin.
D. remain on the ppf.
Answer: A
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Jenny buys sodas and popcorn. Sodas sell for $1 and popcorn sells for $2 a bag. Currently she is in consumer equilibrium, with the marginal utility from her last dollar spent on popcorn equal to 100 units of utility
The marginal utility from her last dollar spent on sodas is A) 20 units of utility. B) 30 units of utility. C) 50 units of utility. D) 100 units of utility.
If the price of music downloads decreases, which of the following is most likely to occur? a. Quantity demanded will decrease. b. Quantity demanded will increase. c. Demand will increase
d. Demand will decrease.
If a rent control policy is enacted to protect apartment renters, this is likely to lead to
A. an increase in the supply of apartments. B. rise in the number of households looking for rental units. C. increased investment in rental properties. D. the conversion of office buildings to rental apartments.
Which price index is not affected by the cost of imports?
a) the consumer price index b) the retail price index c) the wholesale price index d) the producer price index e) the GDP deflator