Refer to Figure 13-17. What is the amount of excess capacity?
A) Qj - Qh units B) Qj - Qf units C) Qh - Qg units D) Qh - Qf units
B
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The quantity of money demanded is the
A) average daily volume of bank account withdrawals. B) amount that people and businesses choose to hold. C) fraction of cash holdings in an average investment portfolio. D) income and volume of profits that people and businesses would like to receive. E) sum of checkable and savings deposits at banks.
Daniella notices that the price of a Lyft home from work today is $14, though it is usually $9. She chooses to take the bus instead, even though the bus is always crowded and it takes her three times as long to get home. This is an example of the ______ effect.
a. income b. substitution c. marginal utility d. endowment
In the short-run, a fall in demand results in _____ while in the long-run, a fall in demand results in ______
A. an increase in output and prices; a decline in output only B. a fall in prices and an increase in output; no change in output or prices C. a fall in prices only; and fall in output and prices D. a fall in output and prices; a fall in prices only
Disinflation is the term for a period during which overall inflation rates are:
A. positive and falling. B. negative. C. zero. D. positive and increasing.