PPP holds better for ________ countries
A) low-inflation
B) poor
C) rich
D) high-inflation
D
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Open market sales shrink ________ thereby lowering ________
A) the money multiplier; the money supply B) the money multiplier; reserves and the monetary base C) reserves and the monetary base; the money supply D) the money base; the money multiplier
Figure 7-13
Refer to . A decrease in price from $15 to $10 leads to
a.
a decrease in total revenue of $10, so the price elasticity of demand is greater than 1 in this price range.
b.
a decrease in total revenue of $10, so the price elasticity of demand is less than 1 in this price range.
c.
a decrease in total revenue of $20, so the price elasticity of demand is less than 1 in this price range.
d.
a decrease in total revenue of $20, so demand is elastic in this price range.
If there are only two goods in the economy, one whose price rises by 3 percent and one by 5 percent, it is possible that inflation is:
A. 4 percent. B. 5 percent. C. 3 percent. D. 7 percent.
Which of the following is an example of an external cost?
A. the opportunity cost of getting a college education B. the cost of tires for your car C. the cost of labor to a firm D. the pollution caused by automobile exhaust