Price controls may be thought of as
A) a restraint on the rationing function of prices.
B) useful tools that promote production.
C) necessary in market economies.
D) the freeing-up of free market forces.
A
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The figure above shows the market for iPods. Which of the following shifts the demand curve from D0 to D2?
A) a decrease in the price of iPods B) a decrease in the price of Zunes, a substitute for iPods C) an increase in the price of iPods D) a decrease in people's incomes if iPods are a normal good E) a requirement that all students at universities have an iPod
Suppose the money supply is set to grow at 7%, real GDP grows at 5%, and the expected real interest rate on Aaa corporate bonds averages 6%
Using the quantity theory of money and the Fisher equation, the nominal interest rate on the Aaa corporate bond should be A) -2%. B) 2%. C) 6%. D) 8%.