Two goods with a low cross elasticity of demand are competing in the same market.
Answer the following statement true (T) or false (F)
False
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When comparing across countries, the higher the rate of saving
A) the lower the level of per capita real Gross Domestic Product (GDP). B) the higher the level of per capita real Gross Domestic Product (GDP). C) the less industrialized the country. D) the lower the productivity rates.
As an household's wealth increases, it will experience a(n):
a. increase in its MPC. b. decrease in autonomous consumption. c. decrease in its MPS. d. increase in autonomous consumption. e. increase in autonomous saving.
Measured as a share of GDP, what happened to the net federal debt between 1990 and 2011?
What will be an ideal response?
If a large decrease in the cost of capital leads to a firm increasing the labor it uses
A. then the output effect outweighs the substitution effect. B. the substitution effect outweighs the output effect. C. the substitution and output effects are equal. D. there is no way to determine the relative strengths of the output and substitution effects.