Autarky is also known as interdependence among foreigners
Indicate whether the statement is true or false
false
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The price elasticity of demand for DVDs is 2. If the price of a DVD increased by 2 percent, the quantity demanded will ________
A) decrease by 2 percent B) not change C) decrease by 4 percent D) decrease by 1 percent
The volume of loans that the Fed makes to banks is affected by the Fed's setting of the interest rate on these loans, called the
A) federal funds rate. B) prime rate. C) discount rate. D) interbank rate.
One reason why, in reality, prices are sticky in the short run is because
A) there are often costs to firms from changing prices. B) purely competitive firms have no control over the price of their product and therefore cannot change the price, even if the market warrants a price change. C) in the short run, the cost to changing prices always outweighs any benefit. D) firms do not have time to react to macroeconomic shocks in the short run.
In the United States in 2015, purchases of capital equipment, inventories, and structures represented approximately
a. 3 percent of GDP. b. 7 percent of GDP. c. 15 percent of GDP. d. 17 percent of GDP.