An automobile manufacturing plant is likely to have a ______________ price elasticity of supply than a bread bakery due to _________________.
A. more elastic; a more flexible production process
B. more elastic; greater availability of inputs
C. less elastic; a less flexible production process
D. more elastic; lower availability of inputs
C. less elastic; a less flexible production process
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According to this Application, some economists noticed that the U.S. dollar ________ largely because monetary policy in the United States had driven interest rates ________
A) depreciated; up B) appreciated; up C) appreciated; down D) depreciated; down
If the marginal propensity to import is ________, then a $2 trillion increase in disposable income would increase import expenditure by $0.2 trillion
If the marginal propensity to import is ________, then a $2 trillion increase in disposable income would increase import expenditure by $0.6 trillion. A) 0.1; 0.3 B) 0.6; 2.0 C) 0.2; 0.6 D) 1.0; 3.0 E) 0.3; 0.1
A decrease in ________ can put your job at risk if aggregate expenditures fall
A) consumer confidence B) the length of a business cycle C) the natural rate of unemployment D) the inflation rate
What is the "store of value" function of money?
a. A common measurement of the relative value of different goods and services. b. The ability of money to hold value over time c. The quality of money not to be hoarded because of its commodity value. d. The function of money to be widely accepted I exchange for goods and services.