The slope of the demand curve conveys all the useful information about elasticity.
Answer the following statement true (T) or false (F)
False
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When the government's expenditures exceed its tax revenue, the budget
A) has a deficit and the national debt is increasing. B) is balanced and the national debt is increasing. C) has a surplus and the national debt is increasing. D) has a deficit and the national debt is decreasing. E) None of the above because by law the government's expenditures cannot exceed its tax revenue.
A decrease in inflationary expectations __________ interest rate
A) raises the natural B) raises the nominal C) lowers the natural D) lowers the nominal
Given an initial deposit (ID) and a legal reserve requirement (LRR), the amount of money potentially created by the banking system is
a. LRR/ID b. ID/LRR c. ID/LRR - ID d. ID/LRR + ID e. None of the above
The basis for monopolistic competition is
A. product differentiation. B. price. C. economies of scale.