If Dr. Giltscalpel's gross revenue doubled when he doubled his surgical fees, the demand for his services within the relevant price range would be
A) indeterminate.
B) perfectly elastic.
C) perfectly inelastic.
D) unit elastic.
E) none of the above.
C
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Liquidity performance an increase in the rate of growth of the money supply cause?
A. Interest rates will fall B. Interest rates will rise C. Nominal wages will fall D. Nominal GDP will stay the same E. Real GDP will fall
Expansionary fiscal policy raises Real GDP more in a closed economy than in an open economy
Indicate whether the statement is true or false
The poverty rate is
A. An annual income of less than $29,000 for a family of four in 2014. B. The percentage of the population that receives food stamps. C. The percentage of the population that is counted as poor. D. The income needed for an individual to be above the poverty line.
The opportunity cost of holding money is
A) the liquidity foregone. B) the higher interest rates that can be earned by holding a bond fund. C) the decrease in risk from holding money rather than a bond fund. D) the liquidity gained by holding ready cash.