The federal government's fiscal year is _____ months long.
A. 6
B. 9
C. 12
D. 18
C. 12
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The price elasticity of demand measures the ________ that results from a ________
A) change in quantity demanded; change in price B) change in price; change in the quantity demanded C) percentage change in price; percentage change in the quantity demanded D) percentage change in the quantity demanded; percentage change in price E) percentage change in the quantity demanded; change in price
An open economy is a national economy that
A) doesn't interact economically with the rest of the world. B) has a stock market that is open to traders from anywhere in the world. C) has extensive trading and financial relationships with other national economies. D) has established diplomatic relations with most other national economies.
Internet sites such as eBay make it easier for sellers and buyers to find one another and, by doing so,
a. reduce transactions costs. b. increase transaction costs. c. reduce the number of exchanges that occur. d. lower the value created by the goods and services available.
Which of the following is true?
A. A recession will lead to reduced output in the future, but inflation has no effect on future output. B. A recession will lead to increased output in the future, but inflation will lead to decreased output in the future. C. Both recessions and inflations may reduce output in the future. D. A recession will lead to reduced output in the future, but inflation will lead to increased output in the future.