Cyrus is deciding whether to purchase a home. Which of the following would be considered an autonomous factor in his decision?
a. whether or not he will receive a raise this year
b. how much money will be taken out of his paycheck this year for taxes
c. whether he expects the economy to “do well” this year
d. how much disposable income he expects to have this year
c. whether he expects the economy to “do well” this year
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Sharisse brags to her mother that her starting salary as a management trainee is $36,000, much higher than her mother's starting salary of $21,000 as a management trainee several years ago
If the CPI the year Sharisse begins work is 181.2 and the CPI the year her mother started work was 109.1, Sharisse is A) wrong. Adjusting for price changes, her salary is less than her mother's salary. B) correct. Adjusting for quantity changes, her salary is more than her mother's salary. C) correct. Adjusting for price changes, her salary is more than her mother's salary. D) wrong. Adjusting for quantity changes, her salary is less than her mother's salary. E) maybe wrong and maybe right. Adjusting for quantity changes, her salary is less than her mother's salary but with the information given we are unable to further adjust for price changes.
Which of the following is included in M1?
A) the $200 you charged on your credit card to purchase your textbooks B) the $200 check you wrote to purchase your textbooks C) the $200 in cash you used to purchase your textbooks D) the $200 loan you arranged to purchase your textbooks
If the supply curve does not shift, an increase in demand results in a(n)
a. increase in equilibrium price and a decrease in equilibrium quantity b. decrease in equilibrium price and a decrease in equilibrium quantity c. increase in equilibrium price and an increase in equilibrium quantity d. decrease in equilibrium price and an increase in equilibrium quantity e. increase in supply
Saving is
a. the sum of the funds people hold in their checking accounts. b. after-tax income that is not spent on consumption. c. always equal to consumption. d. equal to disposable income plus consumption.