Given a consumer's indifference map, the demand curve for a good can
a. be derived by moving a consumer's budget constraint as her income falls.
b. be derived by moving a consumer's budget constraint as her income rises.
c. be derived by moving a consumer's budget constraint as the market price of one good changes.
d. not be derived from consumer theory.
c
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In the United States, who determines the combination of bond and money creation that finances the federal budget deficit?
A) the federal government itself B) the Federal Reserve C) the private banking system D) private bond- and money-holders
A criticism of the unemployment rate is that:
a. underemployment is measured in the calculation. b. the data includes part-time workers as fully employed. c. discouraged workers are included in the calculation. d. all of these are problems.
The reason for the use of the "averaging equation" to compute the price elasticity of demand is that
a. it would be impossible to connect a change in price specifically to a change inquantity demanded otherwise b. the elasticity within a price range differs depending on whether you are measuring price increases or decreases c. otherwise, the answer is sometimes negative and sometimes positive d. it measures sensitivity to price changes more accurately e. economists find the average elasticity to be a useful tool in their research
The money for Social Security payments to current retirees comes from
a. payroll taxes collected from those retirees when they were working. b. income taxes collected from the current working population. c. payroll taxes collected from the current working population. d. only the interest earned now by the government on the invested Social Security trust fund.