On a diagram with "calories consumed per day" on the horizontal axis and "exercise per day" on the vertical axis, we can draw a line along which your body weight at this moment will remain constant
This line is analogous to how ________ for changing values of the variables on the two axes. A) the IS curve holds income constant
B) the IS curve holds the demand for money constant
C) the LM curve holds the demand for money constant
D) the LM curve holds income constant
C
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Any activity designed to transfer income or wealth to a particular individual or firm at society's expense is called:
A. X-inefficiency. B. rent-seeking. C. price discrimination. D. patent protection.
A Giffen good has
A) a positive substitution effect. B) a negative income effect. C) a larger income effect than substitution effect. D) All of the above.
We know government failure as the notion that ________ becomes the tool of ________ and makes the allocation of resources even less efficient than before, and this is described in public choice theory.
A. the public; the government B. government; the rent seeker C. a natural monopoly; the government D. government; barriers to entry
A consumer holds money to meet spending needs. This would be an example of the:
A. Use of money as a measure of value B. Use of money as legal tender C. Transactions demand for money D. Asset demand for money