Two of the most important macroeconomic issues are unemployment and inflation.
Answer the following statement true (T) or false (F)
True
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An intertemporal budget constraint is downward sloping due to ________
A) the trade-off between current and future consumption B) the law of diminishing marginal productivity C) the law of supply D) the law of demand
While the classical economists believed that both velocity and output are stable, Keynesians believe:
a. velocity and output are both variable. b. output is stable and velocity is variable. c. the same as the classical economists that both output and velocity are stable. d. velocity is stable and output is variable.
Measured between two points on a curve, the ratio of the change in the variable on the vertical axis to the change in the variable on the horizontal axis is the:
A. axis. B. slope. C. dependent curve. D. independent curve.
Income inequality tends to be greatest in
A. Poorest countries. B. Richest countries. C. Middle-income countries. D. None of the choices are correct.