Price elasticity of supply is always
A. positive because of the law of supply.
B. negative because percentages can only be negative.
C. negative because of the law of supply.
D. positive because of diminishing marginal utility.
Answer: A
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During the Christmas shopping season, the demand for money increases significantly. If the Fed takes no actions to offset the increase in money demand, then nominal interest rates will:
A. equal the real interest rates. B. increase. C. remain constant. D. decrease.
The liquidity approach to measuring the money supply uses
A) near moneys only. B) M1 only. C) M2 plus some highly liquid assets. D) M1 plus some highly liquid assets.
A job loser is an individual
A) in the labor force whose employment was involuntarily terminated. B) who used to work full time but left the labor force and has now reentered it looking for a job. C) in the labor force who quits voluntarily. D) who has never held a full-time job lasting two weeks or longer but is now seeking employment.
The slope of an indifference curve is equal to the ratio of the ____ of the good on the horizontal axis to the ____ of the good on the vertical axis
a. marginal utility (MU); marginal utility (MU) b. total utility (TU); total utility (TU) c. marginal product (MP); marginal product (MP) d. price (P); total utility (TU)