A good economic model should capture as many details about real-world behavior as possible

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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Demand for luxuries tends to be

a. elastic. b. inelastic. c. indeterminate. d. unit elastic.

Economics

What does the inflation rate measure, and what is deflation?

What will be an ideal response?

Economics

An effective import quota is one that increases the amount of tariff revenues received

a. True b. False

Economics

The Fed directly sets ________.

A. both the federal funds rate and the prime rate B. the prime rate but not the federal funds rate C. the discount rate and the prime rate D. neither the federal funds rate nor the prime rate

Economics