Two goods must have infinite cross elasticities to be considered as belonging to the same market
Indicate whether the statement is true or false
F
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If the government decreases taxes, which of the following would occur?
a. An increase in GDP, an increase in the price level, an increase in money demand, and an increase in the interest rate b. An increase in GDP, a decrease in the price level, an increase in money demand, and a decrease in the interest rate c. A decrease in GDP, a decrease in the price level, a decrease in money demand, and a decrease in the interest rate d. A decrease in GDP, a decrease in the price level, an increase in money demand, and an increase in the interest rate e. An increase in GDP, an increase in the price level, a decrease in money demand, and a decrease in the interest rate.
If the consumer price index is 120 in 2009 and 139.2 in 2010, then the rate of inflation for 2010 is 39.2 percent
a. True b. False Indicate whether the statement is true or false
The labor-force participation rate tells us the fraction of the population that has chosen to participate in the labor market
a. True b. False Indicate whether the statement is true or false
Government's role of providing national defense is considered:
A) enforcing a legal system. B) providing certain goods and services. C) redistributing income. D) expanding economic growth.