A good will tend to be more price elastic if it
A. is a luxury good.
B. has no close substitutes.
C. is a small part of the household budget.
D. is a necessity.
Answer: A
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The face value of money or income is called its ________ value
A) external B) real C) marginal D) nominal
If the Fed buys $100 in securities from a commercial bank, the
A) Fed's assets will decrease. B) quantity of money will decrease. C) quantity of the bank's reserves will increase. D) amount of the bank's reserves will not change.
Explain why it may be advantageous to have technological change explained by, rather than outside of, a growth model
What will be an ideal response?
Policy activists' hope that they can undertake successful stabilization policy is ________ by the fact that natural real GDP ________ during recessions
A) improved, falls B) worsened, falls C) improved, increases D) worsened, increases