Which of the following is a price adjustment?
Select one:
a.
All of the answers presented.
b.
Tim Hortons asking its workers to work overtime.
c.
Bookstores ordering extra copies of The Hunger Games.
d.
None of the answers presented.
e.
A fish processing plant laying off 10 percent of its workers.
Which of the following increases investment (I) spending by $500?
Select one:
a.
You are hired by Dunder-Mifflin, the business on the television show The Office, to shuffle paper uselessly for $500.
b.
You hire your significant other to shuffle paper uselessly for $500.
c.
None of the answers presented.
d.
You are hired by the government to shuffle paper uselessly for $500.
The "No-Markets Fail Often" camp favors:
Select one:
a.
Fixed rules for monetary policy.
b.
All of the answers presented.
c.
A central bank run by politicians.
d.
A role for government in setting monetary policy.
The demand for money increases (the demand curve shifts rightward) when:
Select one:
a.
Real GDP decreases.
b.
Average prices increase.
c.
Average prices decrease.
d.
The quantity of money supplied decreases.
Fiscal policy is changes in:
Select one:
a.
Taxes.
b.
Government purchases.
c.
Transfers.
d.
All of the answers presented.
The quantity of money supplied depends on:
Select one:
a.
Only the Bank of Canada.
b.
Only the Chartered Banks.
c.
The interest rate.
d.
Only the money market.
What do accountants miss?
Select one:
a.
Opportunity costs.
b.
Hidden opportunity costs.
c.
Obvious opportunity costs.
d.
Everything.
The price of diamonds is higher than the price of water because:
Select one:
a.
Marginal benefits from diamonds are relatively high.
b.
Total benefits from diamonds are relatively high.
c.
Total benefits from water are relatively low.
d.
Marginal benefits from water are relatively high.
Aggregate supply of real GDP increases if:
Select one:
a.
Input prices increase.
b.
Output prices increase.
c.
Productivity increases.
d.
All of the answers presented.
If demand decreases and demand decreases more, this leads to:
Select one:
a.
Higher prices.
b.
Chaos.
c.
Lower prices.
d.
A shortage in the market.