If the price of a 32GB memory card decreases from $25 to $20, the percentage change is:
A. -20 percent.
B. -33 percent.
C. -50 percent.
D. -60 percent.
Answer: A
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In a closed economy without the government, income equals:
A) aggregate savings plus aggregate investment. B) aggregate consumption. C) aggregate savings. D) aggregate savings plus aggregate consumption.
Production efficiency is represented by ________ a production possibilities frontier
A) all points on B) all points inside C) all points outside D) a movement along E) only one point on
If not all goods are essential, a consumer will end up optimizing at a corner solution.
Answer the following statement true (T) or false (F)
The quantity theory of money argues that, in the long run, the percentage change in money will create an equal percentage change in
A) velocity. B) real GDP. C) potential GDP. D) the price level.