When supply is written as Q = c + dP and P and Q are the equilibrium values for price and quantity, which of the following is the value of the price elasticity of supply, ES?
A. -c/d
B. c(P/Q)
C. -d/c
D. d(P/Q)
D. d(P/Q)
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The opportunity cost of a college education includes wages lost while enrolled in school.
Answer the following statement true (T) or false (F)
Since the abandonment of the Bretton Woods system, balance of payments considerations have become ________ important, and exchange rate considerations ________ important in the conduct of monetary policy
A) more; less B) more; more C) less; less D) less; more
A common element in all of the banking crisis episodes in different countries is
A) the existence of a government safety net. B) deposit insurance. C) increased regulation. D) lack of competition.
Which of the following is NOT related to the government's political function of income redistribution?
A) providing money transfer payments B) excise tax on gasoline C) Social Security D) in-kind transfers