An increase in government purchases will cause what kind of shift of the aggregate demand curve?
The graph shows an economy’s aggregate demand and aggregate…
The graph shows an economy’s aggregate demand and aggregate supply curves and potential GDP. What is the price level when this economy returns to full employment?
Beaux just purchased homeowners insurance that has personal…
Beaux just purchased homeowners insurance that has personal property coverage based on actual cash value. His policy is more expensive than if he had replacement cost coverage for his personal property.
The English economist William Stanley Jevons described a wor…
The English economist William Stanley Jevons described a world tour during the 1880s by a French singer, Mademoiselle Zelie. One stop on the tour was a theater in the Society Islands, part of French Polynesia in the South Pacific. She performed for her usual fee, which was one-third of the receipts. This turned out to be three pigs, 23 turkeys, 44 chickens, 5000 coconuts, and “considerable quantities of bananas, lemons, and oranges.” She estimated that all of this would have had a value in France of 4000 francs. According to Jevons, “as Mademoiselle could not consume any considerable portion of the receipts herself, it became necessary in the meantime to feed the pigs and poultry with the fruit.” (Source: W. Stanley Jevons, Money and the Mechanism of Exchange, New York: D. Appleton and Company, 1889, pp. 1-2.) Do the goods Mademoiselle Zelie received as payment fulfill the three functions of money?
An increase in government purchases will cause what kind of…
An increase in government purchases will cause what kind of shift of the aggregate demand curve?
At the end of 2021, a country’s national debt was $750 billi…
At the end of 2021, a country’s national debt was $750 billion. In 2022, the government spent $150 billion and ended the year with a debt of $795 billion. How much did the government receive in tax revenues in 2022? The government received $_____ billion in tax revenues in 2022.
In the definition of money supply, where do credit cards bel…
In the definition of money supply, where do credit cards belong?
The M1 money supply is equal to: (Answer to the nearest whol…
The M1 money supply is equal to: (Answer to the nearest whole number; no decimals please)
Suppose that a simple economy produces only the following fo…
Suppose that a simple economy produces only the following four goods and services: shoes, hamburgers, shirts, and cotton. Further, assume that all of the cotton is used in the production of shirts. Use the information in the following table to calculate Nominal Gross Domestic Product (Nominal GDP) for 2019. The Nominal GDP for the year 2019 is:
The English economist William Stanley Jevons described a wor…
The English economist William Stanley Jevons described a world tour during the 1880s by a French singer, Mademoiselle Zelie. One stop on the tour was a theater in the Society Islands, part of French Polynesia in the South Pacific. She performed for her usual fee, which was one-third of the receipts. This turned out to be three pigs, 23 turkeys, 44 chickens, 5000 coconuts, and “considerable quantities of bananas, lemons, and oranges.” She estimated that all of this would have had a value in France of 4000 francs. According to Jevons, “as Mademoiselle could not consume any considerable portion of the receipts herself, it became necessary in the meantime to feed the pigs and poultry with the fruit.” (Source: W. Stanley Jevons, Money and the Mechanism of Exchange, New York: D. Appleton and Company, 1889, pp. 1-2.) Do the goods Mademoiselle Zelie received as payment fulfill the three functions of money?