As new substitutes for office productivity software are developed, the demand for workers in office productivity software production should
A) become more elastic.
B) become less elastic.
C) be unchanged.
D) change in an undetermined way.
Answer: A
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In the figure above, the DLF curve is the demand for loanable funds curve and the PDLF curve is the private demand for loanable funds curve. If there is no Ricardo-Barro effect, the figure shows a situation in which the government has a budget
A) deficit of $1 trillion. B) deficit of $1.5 trillion. C) surplus of $0.5 trillion. D) deficit of $0.5 trillion. E) surplus of $1 trillion.
Federal law required that no two Federal Reserve Board Governors come from the same
A) state. B) political party. C) industry. D) Federal Reserve district.
The holdout problem occurs when _____
a. unanimity rule is required for any Congressional action b. free riding is prevalent c. individuals drafted into the military refuse to report d. any individual has the power to prevent collective action
If the expenditure multiplier is 10 and investment spending decreases by $1,000 billion, what will be the change in GDP?
a. -$10,000 b. $2,500 c. $1,000 d. $10,000 e. -$1,000