The change in consumption resulting from a change in real income
a. demand curve
b. income effect
c. elastic
d. inferior good
Ans: b. income effect
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Economic growth has occurred if inflation rate between this year and last year is zero or less.
Answer the following statement(s) true (T) or false (F)
The decision to innovate
A) depends on the marketing department's needs. B) depends on whether the firm wants to benefit its customers. C) is based on the marginal cost and the marginal revenue of innovation. D) is unnecessary in a monopolistically competitive market. E) None of the above answers is correct.
Which of the following are short-term financial instruments?
A) a repurchase agreement B) a share of Walt Disney Corporation stock C) a Treasury note with a maturity of four years D) a residential mortgage
If M stand for the money supply, V for the velocity of money, P for the average selling price, and Q for the output of goods and services, the equation of exchange is MV = PQ
a. True b. False Indicate whether the statement is true or false