In the U.S. economy, housing accounts for over half of all consumer expenditures.
Answer the following statement true (T) or false (F)
False
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Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. What is the marginal benefit to society from the third satellite?
A) $30 B) $27 C) $54 D) $6
Which of the following two effects of a decrease in the tax rate on saving would raise savings?
a. the income effect and the substitution effect b. the income effect but not the substitution effect c. the substitution effect but not the income effect d. neither the substitution effect nor the income effect
When the Fed reduces the money supply, it will cause a decrease in aggregate demand because:
A. real rates will rise, lowering business investment and consumer spending. B. the dollar will depreciate on the foreign exchange market, leading to an increase in net exports. C. lower interest rates will cause the value of assets (for example, stocks) to rise. D. the national debt will increase, causing consumers to reduce their spending.
An economy's production possibilities curve indicates
A. The rate of economic growth. B. How much the economy can produce. C. The rate of investment. D. The prices of any two goods.