The parties to a contract will choose to acquire possibly duplicative information if they believe that the increase in economic value being created will exceed the cost of discovering the information
Indicate whether the statement is true or false
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Which of the following mathematical expressions represents the equation of a straight line with a slope of zero at all points on a graph with Y on the vertical axis and X on the horizontal axis?
A. Y = a + X B. X = bY C. X = a D. Y = a
If the price of corn increases by 20 percent and the quantity supplied of corn increases by 30 percent, then supply is
A) elastic and the elasticity of supply equals 1.5. B) inelastic and the elasticity of supply equals 1.5. C) elastic and the elasticity of supply equals 0.66. D) inelastic and the elasticity of supply equals 0.66. E) either elastic or inelastic, but more information about the elasticity of demand is needed to determine which.
Consumer wants and consumer demands are the same thing
Indicate whether the statement is true or false
In the Keynesian-cross model, a decrease in the interest rate ______ planned investment spending and ______ the equilibrium level of income.
Fill in the blank(s) with the appropriate word(s).