If the demand for bus transportation in a city is inelastic, then the city should lower the price to increase revenue
Indicate whether the statement is true or false
F
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Referring to the graph above, an economic variable that had peaked in December 1912, November 1914, and February 1918 is likely a ________ variable
A) leading countercyclical B) leading procyclical C) lagging countercyclical D) lagging procyclical E) none of the above
Which of the following can be concluded about the long-run performance of the U.S. economy? a. It has been able to create employment opportunities but only at the cost of high inflation. b. It has failed to generate sufficient aggregate demand in the economy
c. It has been one of the most productive economies in the world in terms of growth in real GDP. d. It has focused fiscal policies mostly at improving aggregate supply. e. It has suffered from huge fiscal deficits that dampened economic growth.
Which one of the following will determine the size of the production possibilities curve?
a. amount of labor b. amount of capital c. entrepreneurship d. all of the above
The nominal, effective exchange rate is the:
a. Nominal, effective exchange rate adjusted for a nation's price level relative to many foreign countries' prices. b. Value of one currency in terms of another currency. c. Weighted-average value of a currency relative to many foreign currencies. d. Nominal, bilateral exchange rate adjusted for the international price levels of the two countries.