In the figure above, at the point where the price is $50 per bunch, the price elasticity of supply is
A) 2.14.
B) 0.47.
C) 1.
D) 3.
E) 0.33.
A
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A rise in the price level has a direct effect on spending because
A) the real value of the money people have decreases and they can buy less with it. B) a higher price gives people more money, and so the more goods and services they can buy. C) the real value of the money people have varies directly with the price level. D) people like to spend more when prices are higher.
You decide to take a vacation and the trip costs you $2,000. While you are on vacation, you do not go to work where you could have earned $750. In terms of dollars, the opportunity cost of the vacation is
A) $2,000. B) $750. C) $2,750. D) $1,250
If the federal government tries to make fiscal policy sustainable by increasing seigniorage, the economy would experience ________ and will result in ________ potential GDP
A) a decrease in the growth rate of the money supply; lower B) an increase in the growth rate of the money supply; higher C) an increase in inflation; lower D) a decrease in the real interest rate; higher
Monetizing deficits has lead to serious inflation in
a. the United States. b. Canada. c. the United Kingdom. d. Russia, Latin America, and Israel. e. All of the above are correct.