Keynes believed that saving is
A) more responsive to changes in income than to changes in interest rates.
B) less responsive to changes in income than to changes in interest rates.
C) equally responsive to changes in income and to changes in interest rates.
D) dependent only on changes in interest rates.
A
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The flatter the demand curve that passes through a given point, the more elastic the demand
a. True b. False Indicate whether the statement is true or false
Which would be easier to reverse? For Denmark, which now pegs its national currency to the euro, to choose monetary autonomy and abandon its peg, or for Italy to switch back from the euro to the lira?
A) Italy, because all it has to do is cash euros for lire B) Italy, because it can change over to an electronic payments system C) Denmark, because it would only have to return all the euros in its treasury D) Denmark, because it would not have to change its currency, accounting structure, nor reprint domestic currency
Suppose that the price elasticity of supply is 0.8 and the price increases by 10%. We would predict:
A. an 8% increase in quantity supplied. B. a 12.5% increase in quantity supplied. C. a 0.8% increase in quantity supplied. D. a 1.25% increase in quantity supplied.
A firm has the following production relationship between labor and output, for a fixed capital stock.
According to the above table, what is the marginal product of the 4th unit of labor?
A. 3 B. 5 C. 6 D. 7