What will happen when there is a rightward shift in the demand curve?
A) The product price will instantaneously adjust downward.
B) Product prices do not change in this situation.
C) Producers will decrease the product price.
D) A new, higher price is not instantaneously achieved, but the price will rise over time.
D
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The Rule of 70 can be used to calculate the
A) 70 percent level of the economic growth rate. B) population growth rate per year. C) economic growth rate per year. D) economic growth rate per month. E) number of years it would take for the level of any variable to double.
Stagflation is the simultaneous occurrence of inflation and high unemployment.
Answer the following statement true (T) or false (F)
If you were to face a marginal tax rate of 20 percent, how much would your tax bill increase when your income increased from $50,000 to $52,000?
A) $1,000 B) $400 C) $450 D) $10,400
If households in the economy decide to take money out of checking account deposits and put this money into savings accounts, this will initially
A) decrease M1 and increase M2. B) decrease M1 and decrease M2. C) decrease M1 and not change M2. D) increase M1 and decrease M2.