Which of the following is not an exogenous cause of business cycles # randomize
A. Wars
B. Elections
C. Discovery of new resour
D. Change in business confidence
E. Geopolitics
Answer: D. Change in business confidence
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The federal government collects taxes on
A. real capital gains. B. nominal capital gains. C. real capital losses. D. nominal capital losses.
If an economy invests more than it loses through depreciation ________
A) the saving rate will fall B) the saving rate will rise C) the quantity of labor will fall D) the capital stock will expand
Explain the basic operations of an economic game
What will be an ideal response?
Figure 7-8
For a price increase from $10 to $11, the price elasticity of the demand curve depicted in is
a.
highly inelastic.
b.
relatively inelastic.
c.
approximately equal to -1.
d.
approximately equal to -2.