Which of the followings does NOT describe the goods market in the ISLM model?
A) consumption function
B) investment function
C) government spending and tax
D) money demand function
D
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In 1980, the U.S. budget was ________, private saving was ________ domestic investment, and foreign borrowing was ________
A) in deficit, higher than, not needed to finance deficit B) balanced, roughly equal to, not needed to finance deficit C) balanced, less than, substantial. D) surplus, greater, negligible
As more people entered the agricultural sector between 1865 and 1913, agricultural efficiency (i.e., output per man hour) fell
Indicate whether the statement is true or false
A tariff on imports affects foreign suppliers ____; a quota affects foreign suppliers ____
a. effectively, ineffectively b. haphazardly, carefully c. equally, capriciously d. unfairly, fairly e. unequally, unequally
If a supply curve is perfectly vertical, what is the value of the price elasticity of supply?