The theory of liquidity preference was developed by Irving Fisher
Indicate whether the statement is true or false
a. True
b. False
False
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Other things equal, the supply of labor will be higher to a job that
a. offers less prestige b. offers fewer nonmonetary rewards c. provides little on-the-job training d. requires advanced education or skills e. provides a climate-controlled work environment
When comparing price elasticities of demand in the long run to the short run, what can we say about the long-run elasticities?
a. Within every price range, the price elasticity of demand is more elastic. b. Consumers are less sensitive to price changes. c. Consumers are inclined to make fewer adjustments to quantity demanded when price changes d. Within every price range, the price elasticity of demand is less elastic. e. Because consumers had more time to adjust to a price decrease or increase, their reaction to either is much smaller.
If one country has an absolute advantage in every commodity, there is no reason for it to trade
a. True b. False Indicate whether the statement is true or false
Economic growth is a(n) _______ process.
A. Constant. B. Exponential. C. Arithmetic. D. Linear.