Which of the following will cause a movement along the demand curve for shoes?
A) an increase in the price of socks
B) an increase in income
C) an increase in the price of shoes
D) all of the above
Answer: C
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If a country is currently lending more to the rest of the world than it is borrowing from the rest of the world, the country is a
A) net borrower. B) debtor nation. C) net lender. D) creditor nation.
An implementation lag is the time it takes: a. for policy makers to decide what to do
b. for the chosen policy to have its full impact on the economy. c. to identify trouble in the economy and to assess its severity. d. to put a selected policy into action. e. before a policy's effects on the economy are noticed by ordinary people.
Because people can borrow when they are young, the life cycle theory would suggest that one's standard of living depends on
a. lifetime income rather than annual income. b. aggregate income rather than annual personal income. c. annual extended-family income rather than annual personal income. d. income averaged across seasons rather than across years.
In the 1950s, the National Football League (NFL) had a virtual monopoly because _____________.
Fill in the blank(s) with the appropriate word(s).