________: percent change in quantity supplied with respect to a percent change in the price of the product
Fill in the blank(s) with correct word
Elasticity of supply
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If the Fed makes an open market purchase of $1 million of government securities, the monetary base
A) is unchanged in size, though its composition changes. B) will decrease by a multiple of $1 million over time. C) will increase by a multiple of $1 million over time. D) is decreased by $1 million. E) is increased by $1 million.
In a nutshell what has been the reality of central planning?
What will be an ideal response?
What is common property? What does common property have to do with externalities?
What will be an ideal response?
Suppose workers' and firms' expectations of the price level and productivity are accurate. In this case, an increase in productivity will cause which of the following?
A) an increase in both the real wage and the natural rate of unemployment B) a decrease in both the real wage and the natural rate of unemployment C) an increase in the real wage and no change in the natural rate of unemployment D) a decrease in the real wage and an increase in the natural rate of unemployment E) none of the above