Extremely rapid rates of money growth are usually the result of:
A. sharp increases in productivity.
B. rapid population growth.
C. large government budget deficits.
D. excessively high interest rates.
Answer: C
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In the above figure, Brendan originally consumes at point A. If his income falls and compact discs are a normal good but haircuts are an inferior good then he will begin consuming at a point such as
A) B. B) E. C) F. D) G.
A leftward shift in the demand curve is called:
a. a decrease in demand. b. an increase in demand. c. a decrease in output. d. an increase in income.
To convey the point about supply-side economics, economist Arthur Laffer likened taxpayers to:
A. The ancient Greeks and the government to the ancient Romans B. Sea passengers on the Titanic and government to the icebergs C. Western pioneers in the United States and government to railroads D. Travelers through Sherwood Forest and the government to Robin Hood
Someone who sells commodity futures is
A) hedging. B) purchasing risk. C) selling risk. D) simultaneously purchasing and selling risk. E) not necessarily doing any of the above.