Since the end of World War II,
A) tariffs around the world fell substantially.
B) agricultural subsidies were significantly reduced.
C) most nations began to apply tariffs uniformly across all industries.
D) tariffs increased in low-income countries and fell a small percentage in high-income countries.
A
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One would speak of a change in the quantity of a good supplied, rather than a change in supply, if
A) the price of the good changes. B) the cost of producing the good changes. C) prices of substitutes in production change. D) supplier expectations about future prices change.
The consumption function shows
a. the relationship between consumption and saving b. the relationship between consumption and real disposable income c. the relationship between consumption and real income d. the relationship between consumption and nominal income e. the relationship between total consumption and consumption for durable goods
As a generalization, it can be said that
a. aggregate demand shifts to the right every year, but aggregate supply rarely does. b. aggregate supply shifts to the right every year, but aggregate demand rarely does. c. both aggregate demand and aggregate supply shift to the right each year. d. neither aggregate demand nor aggregate supply curve shifts to the right each year.
When the number of families with someone employed by the government is added to those receiving income from transfer programs, the share of American families receiving income from the government is
a. less than 20 percent b. approximately 50 percent of the total c. approximately 62 percent of the total d. a little more than 75 percent of the total