When the percentage change in quantity supplied is equal to the percentage change in price, supply is said to be inelastic
Indicate whether the statement is true or false
false
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Credit cards are
A) money but are not a large part of the money supply. B) not money. C) money and are the largest part of the money supply. D) not money because they are not made of paper.
An increase in the foreign interest rate causes the demand for domestic assets to shift to the ________ and the domestic currency to ________, everything else held constant
A) right; appreciate B) right; depreciate C) left; appreciate D) left; depreciate
The consumers' surplus derived from the last unit of a good purchased
a. tends to be less than 0 b. tends to be equal to 0 c. tends to equal the price of the good d. tends to be greater than the price of the good e. depends on the marginal utility of the first unit purchased
Which of the following estimates how quickly an economy grows?
a. An isoquant curve b. An aggregate production function c. The rule of 70 d. The rule of law