Refer to Figure 4-6. The amount of the excise tax I is
a. $.50.
b. $1.50.
c. $1.00.
d. $2.00.
c. $1.00.
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One thousand adults live in Milltown. Every day, they all leave work at 4:30 p.m., arrive home at exactly 5:00 p.m., and go to bed at 9:00 p.m. Three fundraisers, Alpha, Beta, and Charlie, have targeted Milltown's population. To get a donation, they must call Milltown's residents after they get home from work but before they go to bed. Because the charities raising the funds are identical, the first to call a willing donor will get the donation. To an economic naturalist, this scenario would explain why:
A. fundraising calls are outsourced to Asian countries. B. telephone fundraisers have become less popular. C. fundraising calls typically occur shortly before people go to bed. D. fundraising calls typically occur shortly after people arrive home from work.
Shortage
What will be an ideal response?
Based on the graph showing rational expectations and the AD/AS model, expansionary policies will cause ______.
a. a move to a lower point on the aggregate demand curve
b. a move to a higher point on the aggregate demand curve
c. the aggregate demand curve to shift to the left
d. the aggregate demand curve to shift to the right
When the demand for CDs rises, buyers will purchase more CDs at
A. all prices. B. some prices. C. no prices.