During the Industrial Revolution:
A. artisans lost their power to mercantilists.
B. feudal lords lost their power to artisans.
C. mercantilists lost their power to capitalists.
D. capitalists lost their power to mercantilists.
Answer: C
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In the real intertemporal model with investment, there is intertemporal substitution with respect to
A) consumption and leisure. B) government spending. C) capital. D) current consumption.
If the price elasticity of demand for apples is 0.8, then a 2.4% increase in the price of apples will decrease the quantity demanded of apples by
a. 1.92%, and apples sellers' total revenue will increase as a result. b. 1.92%, and apples sellers' total revenue will decrease as a result. c. 3%, and apples sellers' total revenue will increase as a result. d. 3%, and apples sellers' total revenue will decrease as a result.
Which of the following is a characteristic of consumption according to Keynes?
A) consumption depends on disposable income B) consumption and disposable income have a direct relationship C) when disposable income changes, consumption changes by less D) a and c E) a, b, and c
Debt service refers to:
A. how much debt a country incurs each year. B. the fraction of a country's debt that becomes due each year. C. the interest rate a country pays on its debt. D. the interest payments a country makes on its debt each year.