Why is a typical person likely to gather more information when buying a new car than when voting for a member of Congress?
A) because it is less costly to acquire information about consumer items than it is about political candidates
B) because a person's preferences are more likely to be met with little effort in the political sphere but this is not the case when buying a car in the private marketplace
C) because buying a new car affects a person more immediately and personally compared to voting for a member of Congress; in the latter, a person's vote is only one of many voters and therefore, not likely to have a large impact on the outcome
D) because the effects of buying a car are long term while a member of Congress has a relatively short tenure
C
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The price elasticity of demand is a measure of the extent to which the quantity demanded of a good changes when ________ and all other influences on buyers' plans remain the same
A) income changes B) the price of a related good changes C) the price of the good changes D) the demand alone changes E) both the demand and the supply simultaneously change
Which of the following is an advantage of starting a new business as a partnership?
A) Business profits are not taxed. B) A partnership has few government rules and regulations to comply with. C) The owners have limited personal liability. D) A partnership can easily attain additional funding.
If consumption is $7000, exports are $600, government purchases are $2000, government transfers are $900, imports are $800, and investment is $1000, then GDP is $9,800
a. True b. False Indicate whether the statement is true or false
From 2009 through 2012, the long-term real interest paid by the safest U.S. corporations fell from 4 percent to 2 percent. During that same period, the federal funds rate was roughly constant at 0.25 percent a year. A fall in the federal funds rate _______ the supply of bank loans and the supply of loanable funds, and _______ the equilibrium real interest rate.
Fill in the blank(s) with the appropriate word(s).