Other things constant, a decrease in credit card balances would ____ M1 and ____ M2.
a. increase; increase
b. not change; increase.
c. decrease; decrease.
d. not change; not change.
d
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A price index is ________.
A. the cost of a market basket of goods and services in a base period divided by the cost of the same market basket in another period B. a comparison of the current price of a market basket to a fixed point of reference C. a comparison of real GDP in one period relative to another D. a ratio of real GDP to nominal GDP
The above table shows the short-run total product schedule for the campus book store. When the fifth employee is hired, the marginal product is ________ and is ________ the average product
A) increasing; greater than B) increasing; less than C) decreasing; greater than D) decreasing; less than
Policymakers focus on marginal tax rate changes when making changes in the tax code because the marginal tax rate
A) determines how tax revenue will change as national income increases. B) determines how much revenue the government will have to spend. C) always equals the average tax rate which is harder to measure. D) affects people's willingness to work, save, and invest.
Refer to the table below. What is the probability of selling 23 or more cakes?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) 0.60
B) 0.30
C) 0.70
D) 0.40