An increase in _________ will shift the budget line to the right.
a. supply
b. capital
c. resources
d. demand
e. income
e. income
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When there is no Ricardo-Barro effect, a government budget surplus ________ the real interest rate because the ________ loanable funds increases
A) lowers; supply of B) lowers; demand for C) raises; supply of D) raises; demand for E) None of the above answers is correct because the real interest rate does not change.
The elasticity of demand for gasoline is likely to be relatively low in the short term and higher as the period of time gets longer.
Answer the following statement true (T) or false (F)
For legal purposes, a corporation is treated as
A. an individual. B. a nonprofit organization. C. a partnership. D. a limited partner in a partnership.
If a 5 percent increase in income leads to a 15 percent increase in the quantity demanded of a service, then the income elasticity of demand for that service equals 0.33
a. True b. False