A demand curve for a Giffen good would be
A) upward sloping.
B) downward sloping.
C) horizontal.
D) vertical.
A
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The quantity supplied of a good, service, or resource is ________ during a specified period and at a specified price
A) the amount that people are able and willing to sell B) the amount that people are willing and able to buy C) the amount that people are able to sell D) the amount that people are willing to sell E) the amount sold
The more substitutes available for a product, the
A) larger is its price elasticity of demand. B) smaller is its income elasticity of demand. C) smaller is its price elasticity of demand. D) larger is its income elasticity of demand.
To determine the real interest rate in the data, one should take the interest rate on government debt
A) and leave it at that. B) and add the inflation rate. C) and subtract the inflation rate. D) and divide by the inflation rate.
According to the crowding-out view, budget deficits will:
A. reduce interest rates. B. increase interest rates and retard private investment. C. reduce the investments of foreigners in the United States. D. increase the capital stock available to future generations.