The law of demand is true for most goods in the economy
a. True
b. False
Indicate whether the statement is true or false
True
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In a competitive industry buffeted by demand and supply shocks, prices increase and decrease, but economic profits tend to revert to zero. Hence, profits are exhibiting
a. Above-average return b. Positive earnings c. Mean reversion d. None of the above
The quantity theory of money
a. is a fairly recent addition to economic theory. b. can explain both moderate inflation and hyperinflation. c. argues that inflation is caused by too little money in the economy. d. All of the above are correct.
In 2016 based on people ages 15-74 the Swedish adult non-institutionalized population was about 7.3 million, the labor force was 5.2 million, and the number of people employed was 4.8 million. According to these numbers, the Swedish labor-force participation rate and unemployment rate were about
a. 71.2% and 7.7% b. 71.2% and 5.5% c. 65.8% and 7.7% d. 65.8% and 5.5%
Figure 16-3
If budget deficits shift the money demand curve as is illustrated in Figure 16-3, which component of total expenditures will be affected the most?
a.
consumption spending
b.
government spending
c.
private investment spending
d.
net exports