spot exchange is efficient in the absence of
What will be an ideal response?
transaction costs
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Which of the following goods would have the most inelastic demand?
A) bread B) big screen TVs C) luxury cars D) ski vacations
Since the end of World War II, corporate income taxes have accounted for
A. an increasing share of federal revenue. B. a steady share of federal revenue. C. a declining share of federal revenue. D. a rising share of revenue until 1980, and then a falling share.
The Federal Reserve
a. requires little time to change policy and aggregate demand responds quickly.
b. requires little time to change policy but aggregate demand responds slowly.
c. usually requires a substantial time to change policy but aggregate demand responds quickly.
d. usually requires a substantial time to change policy and aggregate demand responds slowly.
In the long run, total spending affects ________, and output is determined by ________.
A. prices; meeting demand at preset prices B. inputs and productivity; prices C. inputs and productivity; total spending D. prices; inputs and productivity