The quantity of savings that people are willing to supply will depend on:
A. the price they will receive.
B. the amount they have left over after consumption.
C. their disposable income.
D. their age, since people tend to stop saving once they retire.
A. the price they will receive.
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If the British pound depreciates against the U.S. dollar,
A) British businesses gain by an increase in the dollar price of exports to the United States. B) British consumers gain by a decrease in the pound price of U.S. exports to Britain. C) British consumers lose by an increase in the pound price of U.S. exports Britain. D) U.S. consumers lose by an increase in the dollar price of British exports to the United States.
In the monetary small open-economy model with a flexible exchange rate, an increase in the world real interest rate
A) increases domestic output and increases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate. B) increases domestic output and decreases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate. C) decreases domestic output and increases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate. D) decreases domestic output and decreases the nominal exchange rate, as long as real money demand is much more responsive to real income than to the real interest rate.
Economics is called an empirical science because
A) economists study real-world evidence to test their models. B) economists use assumptions in their models. C) economic models have no predictive power. D) economic analysis is only useful in a capitalistic society.
The Coase Theorem states that the public sector can achieve environmental efficiency, as long as property rights are clearly assigned
a. True b. False Indicate whether the statement is true or false