Price elasticity
A) is impossible to calculate.
B) can only be calculated with the experience of management.
C) can be calculated with PIMS data.
D) none of these choices.
C
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The present value of a given payment in the future ________ when the interest rates fall
A) decreases B) reverts to the original value C) increases D) remains the same
Macroeconomic models are
A) never wrong. B) accurate descriptions of the economy. C) simple abstractions of reality. D) consistent with all economic data.
The indifference curve between expected return and the standard deviation of return for a risk-averse investor
A) is downward-sloping. B) is upward-sloping. C) is horizontal. D) is vertical. E) can take any shape.
If trade policies change, then we would expect aggregate expenditure to:
A. increase. B. decrease. C. remain constant. D. depends on the policy.