If demand is elastic, a rise in price will decrease total expenditure
a. True
b. False
Indicate whether the statement is true or false
True
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Under the EMS, Germany set the system's
A) monetary policy while the other European countries pegged their currencies to the DM. B) fiscal policy while the other European countries pegged their currencies to the DM. C) monetary policy while the other European countries kept their currencies fluctuating relative to the DM. D) fiscal policy while the other European countries kept their currencies fluctuating relative to the DM. E) monetary policy, while other European countries maintained their traditional policies.
Under what conditions is it likely that the labor supply curve may become backward bending? What roles do the income and substitution effects play?
If an individual uses money from a demand deposit account to purchase a U.S. savings bond
A) M1 decreases and M2 stays the same. B) M1 stays the same and M2 increases. C) M1 stays the same and M2 stays the same. D) M1 decreases and M2 decreases.
Over the past one hundred years,
a. wages rates have decreased, but nonlabor income has increased. b. wages have increased, but nonlabor income has decreased. c. both wages and nonlabor income have increased. d. both wages and nonlabor income have decreased.