Studies show that the demand curve for peas has shifted. Which of the following explanations would you reject first?
a. The price of string beans has changed.
b. The demand for corn has changed.
c. The demand for string beans has changed.
d. The income of consumers has changed.
e. The price of peas has changed.
E
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The slope of the IS curve will be steeper the __________ is the sensitivity of investment to a unit change in the interest rate and the __________ is marginal propensity to save
A) greater; larger B) greater; smaller C) less; larger D) less; smaller
If the government increases the income tax rate, consumers have:
A. less to spend and will reduce their consumption. B. more to spend and will reduce their consumption. C. less to spend and will increase their consumption. D. more to spend and will increase their consumption.
When the consumer price index increases, the value of your money has _____. According to the quantity theory of money this is caused by an increase in the _____
Fill in the blank(s) with correct word
For most firms, economic profit is:
a. less than accounting profit. b. equal to accounting proft c. greater than accounting profit. d. negative