If two persons trade, one must gain at the expense of the other
a. True
b. False
Indicate whether the statement is true or false
False
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According to the aggregate expenditure model, when autonomous expenditure increases, equilibrium expenditure
A) increases by an equal amount. B) does not change because autonomous expenditures has no effect on equilibrium expenditure. C) does not change because only induced expenditures increase equilibrium expenditure. D) increases by a smaller amount. E) increases by a larger amount.
Refer to Figure 3-4. If the price is $10
A) there would be a surplus of 600 units. B) there would be a surplus of 200 units. C) there would be a shortage of 200 units. D) there would be a shortage of 600 units.
If an asset has a present value of $50 and appreciates at an interest rate of 4%, what is the asset's future value in 47 compounding periods?
A) Approximately $400 B) Approximately $316 C) Approximately $137 D) Approximately $1143
Economists dismiss the idea that lower tax rates can lead to higher tax revenue, because there is a consensus that the relevant elasticities of demand and supply are very low
a. True b. False Indicate whether the statement is true or false