Which is considered to be an economic resource by economists?
a. Rent
b. Money
c. Labor
d. Wages
c. Labor
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Refer to Scenario 3 . Why are elasticities of demand rather than slopes used to measure and compare responsiveness?
What will be an ideal response?
A change in the money supply creates demand and cost pressures that lead to future increases in the price level from which main sources? I. Excess demand for output and labor II. Inflationary expectations III. Raw materials prices
A) I B) II C) II and III D) I and II E) I, II, and III
Which of the following bonds will have the highest yield-to-maturity if all three bonds appear identical to investors in terms of risk, liquidity, information costs, tax treatment?
A) one with a coupon of $50 B) one with a coupon of $100 C) one with a coupon of $200 D) none of the above
An increase in taxes will cause the consumption schedule to
a. shift upward. b. shift downward. c. remain fixed as the economy moves upward along the schedule. d. remain fixed as the economy moves downward along the schedule.