This equation is the formula for ______ elasticity of demand.
a. cross-price
b. unit-price
c. equilibrium-price
d. supply-price
a. cross-price
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The three players in the money supply process include
A) banks, depositors, and the U.S. Treasury. B) banks, depositors, and borrowers. C) banks, depositors, and the central bank. D) banks, borrowers, and the central bank.
Which of the following would likely cause aggregate demand to shift to the right?
A. Increased income taxes B. Increased firm confidence C. Decreased government spending D. Increase in the aggregate price level.
If the quantity of a good exchanged decreased, a. It would also increase the price if it was caused by a shift in demand. b. It would also increase the price if it was caused by a shift in supply
c. It would always decrease the price as well. d. None of the above would be true.
From the time of Benjamin Franklin to the present, the percentage of the average American's income that goes to pay taxes has
a. decreased from about 20 percent to about 10 percent. b. remained constant at about 10 percent. c. has risen from less than 2 percent to about 33.3 percent. d. has risen from less than 5 percent to about 25 percent.