By John G. Marcis, Michael Veseth
Read or Download Test Bank for Introductory Economics and Introductory Macroeconomics and Introductory Microeconomics PDF
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Extra info for Test Bank for Introductory Economics and Introductory Macroeconomics and Introductory Microeconomics
Sample text
35. Assume that the Consumer Price Index was 100 in 1977 and 200 in 1981. If you made $10,000 in 1977 and $15,000 in 1981, an economist would say that: (96-97) A. your money income rose but your real income fell. b. your money income rose but your real income remained the same. c. both your real income and money income rose. d. both your real income and money income fell. e. your money income remained the same but your real income rose. 36. Under which of the following situation(s) will real income decline?
An economist would say that a person is "underemployed" if she: (60) a. is unemployed. B. works as a waitress full-time because she cannot find a job as an elementary school teacher. c. is working part-time and does not desire a full-time job. d. feels she is not doing her job well. e. usually works as a construction worker but is in the hospital. 20. Economically speaking, when people who have been out of work for a long time finally give up looking for work, they become part of a group called: (60) a.
For an economy cannot exceed 1,000. 55. According to Veseth, in a period of sustained and accelerating rate of inflation, interest rates will tend to: (82-84) a. fall because the purchasing power of money falls. b. fall because the unemployment rate tends to fall. C. rise because the purchasing power of money falls. d. rise because the purchasing power of money rises. e. rise because the unemployment rate tends to fall. 56. According to Veseth, in a period of sustained and accelerating rate of inflation, interest rates will tend to rise because the: (82-84) a.