If real interest rates decrease, the _____
a. investment spending function shifts upward
b. investment spending function shifts downward
c. consumption function rotates upward
d. consumption function shifts upward
a
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Third parties do not elect large numbers of candidates in democratic countries with majority rule elections
a. True b. False
The International Monetary Fund has a "quasicurrency" called
a. the Special Drawing Right. b. the Voluntary Export Restraint. c. the Monetary Trilemma. d. the Euro Dollar.
Demand is said to be elastic if a ______.
a. 3 percent price increase causes a 2 percent reduction of quantity demanded b. 5 percent price increase causes a 5 percent reduction of quantity demanded c. 5 percent price increase causes a 40 percent reduction of quantity demanded d. 10 percent price increase cause an 8 percent reduction of quantity demanded
One reason to require medical practitioners to be licensed is that
A. medical care involves substantial externalities. B. medical care consumers lack perfect information. C. medical care is so expensive. D. medical care is a public good.