For an open economy, national savings can be:
A. more than investment.
B. less than investment.
C. the same as investment.
D. All of these are true.
D. All of these are true.
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What is the Dow Jones Industrial Average (DJIA)? Give a description of why the DJIA was first created, how it is computed, and how it has evolved over time.
What will be an ideal response?
When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, the aggregate demand curve
A) slopes upward. B) slopes downward. C) is vertical. D) is horizontal.
Suppose that a monopolist must choose between two points on its demand curve: it can sell 100 units for $3 each, or it can sell 150 units for $2 each. Which of the following is true?
a. The monopolist is facing elastic demand. b. The monopolist is facing unit elastic demand. c. The monopolist is facing inelastic demand. d. The monopolist is facing perfectly elastic demand. e. The elasticity of demand cannot be determined with the information given.
Which of the following statements is true?
a. A political business cycle is one created by the incentive for politicians to manipulate the economy to get re-elected. b. Adaptive expectations theory argues that the best indicator of the future is recent information. c. Incomes policies tend to be ineffective over time. d. Incomes policies include jawboning, wage-price guidelines, and wage-price controls. e. All of these.