Which of the following factors does NOT shift the demand curve for money?
A) changes in the interest rate B) changes in real GDP
C) changes in the price level in the economy D) changes in real income
A
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Public saving is positive when:
A. the government's budget is balanced. B. there is a government budget surplus. C. after-tax income of households and businesses is less than consumption expenditures. D. after-tax income of households and businesses is greater than consumption expenditures.
Suppose that a city law requires taxi drivers to wear tuxedos. The drivers must pay $10 per week for the tuxedos. Taxicab companies pay their drivers $210 per week. After paying for the tuxedos, taxi drivers earn $200 per week.
(i) If the law were revised so that taxicab companies, not the drivers, must pay for the tuxedos, what would happen to the taxi drivers' earnings? (ii) If the law were repealed, what would happen to the taxi drivers' earnings? Be as specific as possible.
When the price of bananas rises 2 percent, the quantity demanded of peanut butter falls 4 percent
a. What is the cross elasticity of demand between these two goods? b. How are these goods related? c. If the price of bananas rises, how will that affect the demand curve for peanut butter?
Which of the following refers to the additional cost of producing one more unit?
a. Marginal cost b. Variable cost c. Average cost d. Explicit cost