Refer to Figure 14.1. Other things equal, which of the following will cause a movement from point Y to point X?
A) an increase in the real interest rate
B) a decrease in disposable income
C) a decrease in expected profits for firms
D) an increase in net exports
D
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An increase in the quantity of money shifts the aggregate demand curve rightward
Indicate whether the statement is true or false
Someone who values a lottery at less than the expected value is
a. a risk lover b. risk neutral c. risk averse d. one who tends to play lots of lotteries
Pure monopoly is able to exist because the firm's product is better than the substitutes that are available in the market
a. True b. False Indicate whether the statement is true or false
All U.S. paper dollars read "This note is legal tender for all debts, public and private.". This statement represents which characteristic of US currency?
a. The U.S. operates under the gold standard. b. U.S. paper money is commodity money. c. U.S. paper money is fiat money. d. U.S. paper money is a convenient store of wealth.