A lower real interest rate, amount of consumer debt, and personal taxes ________ personal consumption expenditures
A) increase
B) decrease
C) have no effect on
D) none of the above
A
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During a recession, the average duration of unemployment tends to
A) be unpredictable. B) be about the same as during an expansion. C) decrease. D) increase. E) remain constant.
How has the U.S. government debt changed since 2008? What are the sources of the change in U.S. government debt?
What will be an ideal response?
The change in the economic welfare of a country associated with an increase in a tariff equals
A) efficiency loss - terms of trade gain. B) efficiency gain - terms of trade loss. C) efficiency loss + tax revenue gain. D) efficiency loss + tax revenue gain + terms of trade gain. E) efficiency loss - tax revenue gain.
If Chad's labor-supply curve is upward-sloping, then, for Chad,
a. an increase in the wage creates an income effect that is greater than the substitution effect. b. an increase in the wage creates a substitution effect that is greater than the income effect. c. leisure and consumption are perfect substitutes. d. leisure and consumption are perfect complements.