If your demand for a good is ________, then a 1 percent fall in its price will lead you to ________ your expenditures on the good
A) inelastic; increase
B) inelastic; decrease
C) elastic; increase
D) elastic; decrease
D
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Using the table above, if the current market value of the dollar is 70 francs
A) investor A expects dollar appreciation, but B and C expect depreciation. B) investor A expects dollar depreciation, but B and C expect appreciation. C) all three investors expect the dollar to appreciate. D) all three investors expect the dollar to depreciate.
The ability of the Federal Reserve to use monetary policy to affect economic variables such as real GDP ultimately depends upon its ability to affect
A) nominal interest rates. B) foreign exchange rates. C) real interest rates. D) tax rates.
The term "brain drain" refers to
A) the decreased quality of the college-educated workforce. B) highly educated individuals who leave developing countries for high-income countries. C) the negative impact on brain function of an individual's overinvestment in human capital. D) the diminishing returns to studying for an exam.
In which of the following countries did real GDP per person fall by about 13% from 2000 to 2014?
a. India b. Singapore c. Zimbabwe d. None of the above are correct.