Moving along the aggregate demand curve, a decrease in the quantity of real GDP demanded is a result of
A) an increase in the price level.
B) a decrease in the price level.
C) an increase in income.
D) a decrease in income.
A
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Financial innovations can have the effect of
A) only decreasing the demand for money. B) only increasing the demand for money. C) either increasing or decreasing the demand for money depending on what the innovation is. D) increasing the Fed's monetary policy.
Which statement about income inequality is true?
a. Income inequality is the disparity between those with higher and lower incomes. b. Income inequality and poverty are synonymous terms. c. Income inequality applies to the condition of people who cannot afford necessities. d. Income inequality refers to the percentage of the population living below the poverty line.
Taxes cause deadweight losses because they prevent buyers and sellers from realizing some of the gains from trade
a. True b. False Indicate whether the statement is true or false
OPEC provides an example of:
A. an unwritten, informal understanding. B. noncollusive oligopoly. C. an international cartel. D. a monopolistically competitive industry.