In the acronym PYNTE, the letter “Y” stands for changes in ______.
a. income
b. number of buyers
c. tastes
d. expectations
a. income
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Keynes's liquidity preference theory indicates that the demand for money is ________ related to ________
A) negatively; interest rates B) positively; interest rates C) negatively; income D) negatively; wealth
If the price elasticity of demand for a good is greater than one in absolute value, economists characterize that demand is
A) elastic. B) inelastic. C) perfect. D) vertical.
Which of the following terms refers to the time it takes to get a fiscal policy bill passed?
a. recognition lag b. implementation lag c. legislative lag d. budgetary lag
If the price of the output produced by a particular type of labor decreases, which of the following shifts should occur in the labor market for the particular type of labor?
A. Demand for labor should shift to the right. B. Supply of labor should shift to the right. C. Demand for labor should shift to the left. D. Supply of labor should shift to the left.