The primary purpose of ________ is to encourage the expenditure of funds on research and development to create new products
A) patents and copyrights B) nationalizing oil companies
C) government-run health care D) centrally planned economies
A
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Refer to Figure 11.4. Which diagram illustrates the effect of a decrease in the marginal propensity to consume?
A) A B) B C) C D) D
If the cross elasticity of demand between coffee and tea is positive, an increase in the price of tea will shift the demand curve for
A) tea rightward. B) tea leftward. C) coffee rightward. D) coffee leftward.
What are three reasons people want to hold money balances?
What will be an ideal response?
In an economy in which velocity is constant and real output grows at an average rate of 3 percent per year, a 5 percent average rate of growth in the money supply would result in a
a. constant price level. b. low (approximately 2 percent) rate of inflation. c. decline in the general level of prices at an annual rate of approximately 2 percent. d. rate of inflation of approximately 8 percent.