Which of the following is the injection into the circular flow model?
a. Money deposited in a savings account.
b. Income earned through exports.
c. Goods imported from abroad.
d. Taxes paid by the individuals.
b
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Refer to Figure 7.1. Suppose that instead of $350, Angus earns only $250 by playing the bagpipes, but all other earnings remain the same
Also, suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. In this case, the Coase theorem predicts that A) Dudley will pay Angus to not play the bagpipes. B) Angus will pay Dudley so Angus can play the bagpipes. C) Dudley will do nothing and Angus will mop floors. D) no bargain can be reached between Angus and Dudley.
A diagram shows the quantity of tomatoes on the horizontal axis and the quantity of coffee on the vertical axis. The quantity of tomatoes remains constant as the quantity of coffee increases. The graph of these data is
A) a horizontal line. B) a vertical line. C) a positively sloped line. D) a negatively sloped line
In the above figure, Brendan originally consumes at point A. If his income rises and compact discs are a normal good but haircuts are an inferior good then he will begin consuming at a point such as
A) E. B) B. C) C. D) D.
The Federal Reserve Board of Governors has:
a. seven members who serve 6-year terms. b. 12 members who serve 14-year terms. c. seven members who serve 4-year terms. d. 12 members who serve 4-year terms. e. seven members who serve 14-year terms.