In the 1970s we had _____ recessions and in the 1980s we had _____ recessions.
Fill in the blank(s) with the appropriate word(s).
2; 2
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The price elasticity of supply of laptop computers equals 1.5 if
A) a rightward shift of the demand curve for laptops causes the quantity supplied to increase by 1.5 percent. B) a rightward shift of the demand curve for laptops causes a 1.5 percent increase in their price. C) for every 1 percent that laptop prices increase, computer makers produce another 1.5 percent laptops. D) for every $1.00 that laptops increase in price, computer makers produce another 150 laptops.
If the MPS is 0.1 and the income tax rate is 0.33 the marginal leakage rate for a closed economy is
A) 0.033. B) 0.23. C) 0.43. D) 0.397.
The President and the Congress jointly determine the nation's monetary policies, and the Fed is required by law to implement those policies
a. True b. False Indicate whether the statement is true or false
A good that is rival but nonexclusive is called a(n) ?
a. private good
b. public good
c. quasi-private good
d. external good
e. open access good