Assume Congress enacts a $10 billion decrease in spending and a $10 billion decrease in tax revenue. The result of this balanced-budget approach is a:
a. $10 billion decrease in aggregate demand.
b. $20 billion decrease in aggregate demand.
c. $100 billion decrease in aggregate demand.
d. $10 billion increase in aggregate demand.
a
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Which statement most accurately defines economics?
A) Economics is the study of how people make money. B) Economics is the study of how people make choices to satisfy their wants. C) Economics is the study of values a society should choose. D) Economics is the study of how to eliminate scarcity.
The U.S. received only _____ of the total number of slaves crossing the Atlantic
a. 3 percent b. 6 percent c. 12 percent d. 36 percent e. 72 percent
The U.S. non institutional population excludes
a. members of the resident armed forces. b. all students under the age of 18. c. persons in prisons and medical institutions. d. All of these.
An increase in the demand for tattoos will lead to a:
a. higher price and a larger quantity sold. b. lower price and a larger quantity sold. c. higher price and a smaller quantity sold. d. lower price and a smaller quantity sold