The central bank of the United States is known as the
A. Federal Deposit Insurance Corporation.
B. Department of the Treasury.
C. Federal Reserve System.
D. Federal Savings and Loan Insurance Corporation.
Answer: C
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The above figure shows Jane's budget line and two of her indifference curves. Which of the following happens to Jane's budget line if there were a decrease in her monthly dining out budget?
A) It would bend toward the origin, becoming more convex. B) It would bend away from the origin, becoming more concave. C) It would shift rightward and not change its slope. D) It would shift leftward and not change its slope.
Refer to Figure 4.2. The substitution effect on the quantity of clothing purchased is:
A) the change from C3 to C1. B) the change from C3 to C2. C) the change from C2 to C1. D) the change from C1 to C2. E) none of the above
The four components of aggregate expenditure (AE) are:
A. consumption, internet, government, and capital spending. B. consumption, investment, government, and capital spending. C. consumption, investment, government, and net export spending. D. consumption, investment, exports, and imports.
An economy experiences economic growth whenever
A. Long-run real GDP rises. B. The unemployment rate falls. C. Nominal GDP rises. D. Base-year GDP rises.