An activity should be undertaken if the marginal benefit of the activity is greater than the marginal cost of the activity
Indicate whether the statement is true or false
TRUE
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If a 5 percent increase in the price of good A leads to a 4 percent decrease in the demand for good B, then ________
A) the goods are substitutes B) only one good is a normal good C) the goods are complements D) both goods are normal goods
A period of sustained growth in output in an economy is referred to as a(n) _____
a. expansion b. contraction c. peak d. trough e. recession
Expansionary fiscal policy may have an even smaller effect on aggregate demand in the open economy than a closed economy
a. True b. False Indicate whether the statement is true or false
The compound growth rate formula is used to estimate how long it will take for a number to double for a given growth rate
a. True b. False Indicate whether the statement is true or false