The value of child-rearing and other household production are not included in GDP
a. True
b. False
Indicate whether the statement is true or false
True
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At $5 per cup, customers will buy 8 cups of coffee per week. At a price of $3, consumers are willing to buy 12 cups per week. The elasticity of the market demand curve for coffee between P = $5 and P = $3 (dropping all minus signs) is
A. 0.40. B. 1.0 C. 1.25. D. 0.80.
An increase in the rate of interest, other things being equal, will cause a(n):
a. downward shift in the investment demand curve. b. movement downward along the investment demand curve. c. movement upward along the investment demand curve. d. upward shift in the investment demand curve.
Which of the following described the monopolist’s marginal revenue curve on a graph?
a. Lies above the demand curve b. Is the same as the demand curve c. Lies below the demand curve d. Is a horizontal line at market price
The government has a balanced budget if
A) its total revenues are equal to its total expenditures. B) its total revenues are less than its total expenditures. C) its total revenues are greater than its total expenditures. D) the money supply is less than total expenditures.