Which of the following factors would NOT affect the own price elasticity of a good?
A. Price of an input
B. Available substitutes
C. Time
D. Expenditure share
Answer: A
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If an individual can produce a good or service with a lower opportunity cost than another individual, then he or she is said to have the comparative advantage
a. True b. False Indicate whether the statement is true or false
If a country has a positive net capital outflow, then
a. on net it is purchasing assets from abroad. This adds to its demand for domestically generated loanable funds. b. on net it is purchasing assets from abroad. This subtracts from its demand for domestically generated loanable funds. c. on net other countries are purchasing assets from it. This adds to its demand for domestically generated loanable funds. d. on net other countries are purchasing assets from it. This subtracts from its demand for domestically generated loanable funds.
A decrease in the federal income tax is an example of ________ policy.
A. monetary B. aggregation C. structural D. fiscal
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.