At the end of the populist cycle, workers are better off than they were before the populist cycle began in terms of real wages and job creation
Indicate whether the statement is true or false
FALSE
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Suppose the price elasticity of demand for tacos is 0.80. If the price of tacos increases by 10 percent, then the quantity demanded of tacos should, ceteris paribus:
a) Decrease by 8 percent. b) Decrease by 1.25 percent. c) Increase by 8 percent. d) Increase by 1.25 percent.
Assume that there is an increase in perceived bankruptcy risk. As a result of this we would expect to see
a. income and interest rates to rise. b. money demand and interest rates to fall. c. money demand and interest rates to rise. d. money supply to rise and interest rates to fall.Figure 7-1
Abstract terms like "cost of living" and "price level" are meaningless to ordinary individuals
a. True b. False Indicate whether the statement is true or false
A firm should always shut down if it is earning negative profits.
a. true b. false