The level of protection from influenza (flu) in a community has characteristics of a public good
Indicate whether the statement is true or false
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Why don't consumers work in the two-period model?
A) It's a convenient simplification. B) It would make no difference to the model if consumers could work. C) People who participate in real-world credit markets do not work. D) We don't know how to include workers in the model.
What best describes the impact of the cotton gin?
a. A decrease in the price and an increase in the quantity of cotton. b. An increase in the price and a decrease in the quantity of cotton. c. Decreases in both the price and quantity of cotton. d. Increases in both the price and quantity of cotton.
Which of the following describes the relationship between the change in inventories and aggregate expenditure?
a. Aggregate expenditure equals the change in inventories minus GDP. b. The change in inventories equals GDP divided by aggregate expenditures. c. Aggregate expenditures equals GDP divided by the change in inventories. d. Aggregate expenditures equals GDP minus the change in inventories. e. The change in inventories equals GDP multiplied by aggregate expenditure.
Which of the following is correct?
a. Real GDP is the variable most commonly used to measure short-run economic fluctuations. These fluctuations can be predicted with a much accuracy. b. Real GDP is the variable most commonly used to measure short-run economic fluctuations. It is almost impossible to predict these fluctuations with much accuracy. c. Nominal GDP is the variable most commonly used to measure short-run economic fluctuations. These fluctuations can be predicted with some accuracy. d. Nominal GDP is the variable most commonly used to measure short-run economic fluctuations. It is almost impossible to predict these fluctuations with much accuracy.