In Moscow in 1989, what were taxi drivers using as a medium of exchange?
A) Russian rubles
B) Marlboro cigarettes
C) gold coins
D) caviar
B
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In deriving LM curves, holding the real money supply constant while raising real GDP causes us to
A) trace up along an LM curve. B) trace down along an LM curve. C) shift the LM curve to the right. D) shift the LM curve to the left.
Empirical evidence indicates that imposing taxes on polluting emissions by firms
a. has no effect on the amount of pollution emitted. b. does not give the government leeway to regulate more dangerous emissions differently than less dangerous emissions. c. does reduce the amount of pollution emitted. d. discourages firms from investing in new methods of pollution abatement.
"The only thing that results from expansionary demand-side fiscal policy is that the price level will rise." The economist who said this most likely believes that
A) there is likely to be a lot of crowding out if government spending rises. B) the AS curve is vertical. C) there is unlikely to be much crowding out if government spending rises. D) investment is interest inelastic. E) b and c
Refer to the above table. The price of a hamburger is $2, the price of a movie is $10, and the consumer has $44. What is the change in quantity demanded of hamburgers if the price of a hamburger decreases to $1?
A. Quantity demanded increases by 2 hamburgers. B. Quantity demanded increases by 4 hamburgers. C. Quantity demanded increases by 1 hamburger. D. Quantity demanded increases by 3 hamburgers.