If the cross-price elasticity of demand between two goods is positive, we can assume that the two goods in question are:

The ratio of debt to GDP is much higher in the United States than in most other industrialized nations

Indicate whether the statement is true or false

In explaining the downward-sloping aggregate demand curve, the wealth effect is:

a. When the price index falls, the real money supply falls, causing the real risk-free interest rate to fall, and the value of bonds (wealth) to rise. b. When the price index falls, the real money supply falls, causing the real risk-free interest rate to rise, and the value of bonds (wealth) to rise. c. When the price index falls, the real money supply rises, causing the real risk-free interest rate to fall, and the value of bonds (wealth) to rise. d. When the price index falls, people become wealthy because they earn higher nominal incomes, and the price of everything they purchase is cheaper. Therefore, they are wealthier. e. None of the above.

John Maynard Keynes drew many economists ______________ the classical view. The classical view held that a market economy __________ regulate itself to avoid long periods of excessive unemployment

A) toward; can B) toward; cannot C) away from; can D) away from; cannot

Marginal land is land

A. that is unprofitable under any circumstances. B. that is the most productive in the area. C. that is on the borderline of profitability. D. of average productivity.