Commitment devices can be:
A. a way for people to voluntarily restrict their choices in order to make it easier to stick to plans.
B. a way to use choice architecture to help you avoid temptation.
C. formal policies or products.
D. All of these statements are true.
Answer: D
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When the price level ________, equilibrium expenditure ________ and the quantity of real GDP demanded ________
A) rises; decreases; increases B) rises; increases; increases C) rises; increases; decreases D) falls; increases; decreases E) falls; increases; increases
Which of the following statements is true?
A) If the domestic price of a good in a country is lower than the world price, the country will become an exporter of the good. B) Whether a country becomes an importer or an exporter of a good depends only on the domestic price of the good and is independent of the world price of the good. C) If the domestic price of a good in a country is lower than the world price, the country will become an importer of the good. D) Whether a country becomes an importer or an exporter of a good depends only on the world price of the good and is independent of the domestic price of the good.
The Occupy Wall Street movement advocates
A) a shift away from market capitalism. B) a shift towards more market capitalism. C) centrally planned socialism. D) following the teachings of Adam Smith.
Total planned expenditure (equals total output) is 14,000 when autonomous consumption expenditure is 450. When autonomous consumption expenditure falls to 400, total planned expenditure (equals total output) is 13,800
The marginal propensity to consume is ________. A) 0.89 B) 0.75 C) 0.99 D) 0.44 E) 0.03