If accompanied by decreased investment, increased saving is both inevitable and desirable
Indicate whether the statement is true or false
F
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Suppose the economy is initially operating at full employment. A fiscal policy action that results in an increase in the size of the budget deficit will cause which of the following in the long run?
A) an increase in real GDP. B) have no effect on both the level and composition of real GDP. C) a reduction in the price level. D) change the composition of real GDP.
According to the Coase theorem, if the initial distribution of rights favors some party, market efficiency will ensure that the net benefits to that party are maximized
Indicate whether the statement is true or false
What are the characteristics of monopolistic competition?
What will be an ideal response?
Suppose that when the price of good X changes from $5 to $10, the demand for good Y changes from 110 to 100, then the cross-elasticity of demand is:
A. 1.44 and the goods are substitutes. B. -0.143 and the goods are complements. C. -0.09 and the goods are complements. D. 1.44 and the goods are complements.