Which is NOT an example of inelastic supply?
A. Tickets to a sold-out concert
B. Bottled water
C. Hotel rooms in a city during a convention
D. Golf courses in a county
Answer: B
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The larger the MPC, the ________ the expenditure multiplier and the ________ the effect of a change in expenditure on equilibrium output.
A. larger; smaller B. smaller; larger C. larger; larger D. smaller; smaller
A firm's inventory piled up during a recession. How will its labor demand be affected when its excess inventory gets sold off eventually?
What will be an ideal response?
What is the real dilemma facing the prisoners in the prisoners' dilemma game?
What will be an ideal response?
A nation can finance a deficit on its current account with
A. a surplus on its capital account. B. a deficit on its capital account. C. official purchases of foreign currencies with its own currency. D. purchases of gold from foreign currencies with its own currency.