Price elasticities are calculated for four goods, and the values are: 5.5; 3.5; 1.0; 0.2. Which price elasticity is most elastic?
A) 5.5
B) 3.5
C) 1.0
D) 0.2
Answer: A
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A main reason for the low unemployment rate from 1995 through most of the 2000s was because of
A) higher oil prices. B) the government's policy of tightening immigration policies. C) the rapid development of the Internet industry and other new technologies. D) government's more liberal social benefit programs. E) increased defense expenditures by the government.
Given the information in the above table, the relationship between x and y is
A) positive, and the curve becomes flatter as x increases. B) positive, and the curve becomes steeper as x increases. C) positive and linear. D) negative and linear.
If the price level and the money wage rate rise by the same percentage, what happens to the quantity of real GDP supplied? Along which aggregate supply curve does the economy move?
What will be an ideal response?
Which one of the following statements is the most correct?
A) If central banks are not sterilizing and the home country has a balance of payments surplus, any associated increase in the home central bank's foreign asset implies an increased home money supply. B) If central banks are not sterilizing and the home country has a balance of payments surplus, any associated increase in the home central bank's foreign asset implies a decreased home money supply. C) If central banks are not sterilizing and the home country has a balance of payments surplus, any associated increase in the home central bank's foreign asset implies an increased home money demand. D) If central banks are not sterilizing and the home country has a balance of payments surplus, any associated decrease in the home central bank's foreign asset implies an increased home money supply. E) If central banks are not sterilizing and the home country has a balance of payments shortage, any associated decrease in the home central bank's foreign asset implies an increased home money supply.