Many macroeconomic variables
a. fluctuate together and by different amounts
b. fluctuate together by the same amounts.
c. never fluctuate together.
d. fluctuate together about half of the time and by the same amount.
a
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A currency drain is cash ________ and has ________ effect on the money multiplier
A) draining into the banks; an B) held at the Fed; an C) draining into the banks; no D) held as reserves; no E) held outside the banks; an
The table above gives the demand schedule for snow peas. The demand curve for snow peas is a straight line and so the elasticity of demand is
A) 1 at all prices. B) the same at all prices but not 1. C) higher at higher prices. D) lower at higher prices.
Studies show that the income elasticity of demand for wine is approximately five. What does this mean?
A) A 1 percent increase in income leads to a 5 percent increase in wine consumption. B) A 1 percent decrease in the price of wine leads to a 5 percent increase in wine consumption. C) A 5 percent increase in income leads to a 1 percent increase in wine consumption. D) Wine is a relatively elastic good.
The iterative deletion of dominated strategies refers to the following process:
A. continue removing the weakly dominated strategies until there are no more weakly dominated strategies left to remove. B. continue removing the dominant strategies until there are no more dominant strategies left to remove. C. continue removing the dominated strategies until there are no more dominated strategies left to remove. D. continue removing the best responses until there are no more best responses left to remove.