Consumers most likely decide on their current consumption spending by looking at their short-run income prospects
a. True
b. False
Indicate whether the statement is true or false
False
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Assume that you are currently making $15,000 a year as a sales clerk in a department store
At the end of your senior year in college in May you get a job offer from a large accounting firm that won't start until late August of that same year but which pays $45,000 per year. What would you expect might happen to your demand for an automobile and new clothes immediately and why?
Suppose a steel firm and a cookware company merge. This merger would be classified as:
a. a horizontal merger. b. a vertical merger. c. a conglomerate merger. d. either a horizontal or conglomerate merger, depending on the nationality of the companies. e. either a horizontal or conglomerate merger, depending on the market shares of the two companies.
For an economy that engages in international trade, GDP is divided into four components. Which of the following items is not one of those components?
a. consumption. b. national saving. c. government purchases. d. net exports.
When looking at a graph of aggregate demand, which of the following is correct?
a. There are nominal variables on both the vertical and the horizontal axes. b. There are real variables on both the vertical and horizontal axes. c. The variable on the vertical axis is nominal; the variable on the horizontal axis is real d. The variable on the vertical axis is real; the variable on the horizontal axis is nominal