Which statement is true?
A. Over time demand tends to become less elastic.
B. The demand for cigarettes is very elastic.
C. Advertisers try to make the demand for their products less elastic.
D. None of these statements are true.
C. Advertisers try to make the demand for their products less elastic.
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Cyclical unemployment results from
A. technological change. B. the decreasing relative importance of goods and the increasing relative importance of services in the U.S. economy. C. a deficiency of spending on goods and services. D. the everyday dynamics of a free labor market, with workers voluntarily changing jobs.
The larger the value of the marginal propensity to save (MPS)
A) the larger is the value of the marginal propensity to consumption (MPC). B) the smaller is the value of the multiplier. C) the larger is the value of the multiplier. D) the larger is the value of autonomous consumption.
Over the last several decades, per capita world food production has
a. risen rapidly b. been stable c. risen at first, but then fallen d. risen slowly e. fallen continuously
An upward-sloping LM curve implies that the expenditure multiplier, when compared with the simple Keynesian expenditure multiplier, is
A) smaller. B) larger. C) equal. D) equal to the inverse of the simple multiplier.