Which of the following is correct? The supply curve will shift when
A) income, preferences, or the number of suppliers change.
B) income, preferences, or the number of buyers change.
C) income, preferences, or production technology changes.
D) the number of sellers and the number of buyers change.
E) production technology and input prices change.
E
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If the savings rate in an economy is 30%, and the GDP of the economy is $1,000, then the level of investment in the economy will be:
A) $330. B) $150. C) $600. D) $300.
In principle, taxes and cap-and-trade plans will have exactly the same effects
Indicate whether the statement is true or false
The figure below shows an IS-LM-FE model for an economy with fixed exchange rates. Initially the economy was at Point A, a triple intersection. Here, the FE curve is flatter than the LM curve.
To defend the fixed exchange rate, at Point B the country's monetary authority must
A. sell domestic currency. B. buy domestic currency. C. sell foreign government bonds. D. buy domestic government bonds.
According to the principle of diminishing marginal utility
A) total utility always falls with additional consumption. B) total utility is usually negative. C) the consumer will never tire of additional units of a good. D) the rate at which utility increases diminishes as more of a good is consumed.