Normal goods have negative income elasticities of demand, while inferior goods have positive income elasticities of demand
a. True
b. False
Indicate whether the statement is true or false
False
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In the United States, ________ percent of all firms are partnerships
A) 4 B) 10 C) 14 D) 26
At the point where actual inflation is equal to expected inflation,
A) the short-run Phillips curve intersects the long-run Phillips curve. B) the short-run Phillips curve is the same as the long-run Phillips curve. C) the unemployment rate is zero. D) there is no short-run Phillips curve, as this situation only occurs in the long run.
A skilled worker is an example of:
a. unproductive resources. b. land resources. c. labor resources. d. capital resources. e. both labor and capital resources.
If the dotted horizontal line represents the effect of a usury law then there is a _____ of loanable funds of _________ billion dollars.
A. surplus; 50
B. shortage; 50
C. surplus; 110
D. shortage; 110