Consumer spending ___ and investment spending ____
Fill in the blank(s) with the appropriate word(s).
follows a smooth trend; is more volatile and subject to fluctuations
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Sergio's rentals of Blu-ray movies increase by 10 percent when her income increases by 30 percent. Based on this information, we know that for Sergio, Blu-ray movies
A) are complements. B) are substitutes. C) are inferior goods. D) have an inelastic demand. E) are normal goods.
GDP can be calculated by the value-added approach, which
a. is useful in avoiding double counting. b. includes only the value-added portion from the sale of goods and services. c. includes the revenue a firm receives from selling a product minus the amount paid for goods purchased from other firms. d. All of the above correct.
The shape of a short-run aggregate supply curve basically depends on what happens to production costs and, therefore, to the prices that businesses must receive to cover costs and make a profit as real domestic output expands.
Answer the following statement true (T) or false (F)
Under a flexible exchange rate system, a decrease in the value of a domestic currency in terms of foreign currencies is referred to as
A) an appreciation. B) a depreciation. C) a devaluation. D) a revaluation.