Consumption spending includes
a. durable goods, nondurable goods, and housing
b. durable goods, nondurable goods, and imports
c. durable goods, services, and housing
d. durable goods, nondurable goods, and services
e. nondurable goods, services, and housing
D
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If the interest rate rises from 1 percent to 3 percent, the ________ decreases and the opportunity cost of holding money ________
A) demand for money; rises B) quantity of money demanded; rises C) quantity of money supplied; rises D) quantity of money demanded; falls E) quantity of money supplied; falls
Steve sells hotdogs from a vending cart downtown. The table above shows his daily total revenues at four different prices. Between which two prices is the demand for hotdogs
a. elastic? b. unit elastic? c. inelastic?
Suppose your expenses for this term are as follows: tuition: $10,000, room and board: $6,000, books and other educational supplies: $1,000
Further, during the term, you can only work part-time and earn $8,000 instead of your full-time salary of $20,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $11,000 B) $17,000 C) $23,000 D) $29,000
The proponents of rational expectations believe that:
a. there will be a substantial time lag before people anticipate the eventual effects of a shift to a more expansionary macro-policy. b. macro-policies that stimulate demand and place upward pressure on the general level if prices will temporarily increase output and employment. c. the inflationary side effects of expansionary policies will be anticipated quickly, and therefore, even their short-run effects on real output and employment will be minimal. d. discretionary changes in macro-policy can be made in a manner that will reduce the economic ups and downs of a market economy.