If people's incomes decrease, their demand for other currencies shifts to the right
Indicate whether the statement is true or false
F
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Explain the differences between discretionary fiscal policy and automatic stabilizers, and give one example of each
What will be an ideal response?
Economic information
a. is usually scarce and costly to acquire b. is usually available free to any decision maker c. is usually not required for rational decision making d. must be complete before any decision is made e. is usually useful only to governments
If the numerical value of the price elasticity of demand is 3, then a one-percent change in price will cause a(n)
a. larger percentage change in quantity demanded, so demand is elastic b. larger percentage change in quantity demanded, so demand is inelastic c. smaller percentage change in quantity demanded, so demand is elastic d. smaller percentage change in quantity demanded, so demand is inelastic e. equal percentage change in quantity demand, so demand is unitary elastic
Sally is on her college golf team and only uses Titleist golf balls. She states: "I don't care what the price is, I will only buy Titleists." Is this a believable assertion?