When economists talk about a "balance of payments" deficit, they refer to a condition in which total debits exceed total credits in the balance of payments account
a. True
b. False
Indicate whether the statement is true or false
False
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When the absolute price elasticity of demand is greater than 1, demand is
A) elastic. B) unit-elastic. C) inelastic. D) undetermined without more information.
Suppose investors become more optimistic that the economy will be doing well over the next decade. How will the market for loanable funds as depicted in the accompanying graph be affected?
A. Supply will shift to the right from S1 to S2.
B. Supply will shift to the left from S2 to S1.
C. Demand will shift to the right from D1 to D2.
D. Demand will shift to the left from D2 to D1.
The lag between an increase in government spending and the impact of this increased spending on the economy is called the __________ lag
A) effectiveness B) transmission C) legislative D) data
If a company division is operated as a revenue center and its demand curve is P = 200 ? 2Q, how many units should it produce per day?
A. 0 B. 50 C. 25 D. 100