The United States produces more services than goods
Indicate whether the statement is true or false
TRUE
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The above table has the demand for money schedule
a) If the Fed supplies $1.1 trillion dollars, what is the equilibrium interest rate? b) Discuss how equilibrium is restored if the interest rate is greater than the equilibrium rate found in part (a).
Jimmy Earl, a farmer, sells $20 worth of peanuts to a factory that manufactures peanut butter, which sells it for $45 . Which of the following is true?
a. Total value added is $65 b. The value of final sales is $65. c. The value of final sales is $25. d. Total value added is $25. e. Total value added is $45.
Which of the following would be most likely to improve the standard of living of the residents of a less-developed country?
a. The development of strong labor unions. b. A sharp increase in the legal minimum wage. c. An increase in expenditures on education and capital investment. d. Rapid growth rate of the money supply.
Suppose Qxd = 10,000 ? 2 Px + 3 Py ? 4.5M, where Px = $100, Py = $50, and M = $2,000. What is the own price elasticity of demand?
A. ?1.21 B. ?0.21 C. ?0.78 D. ?2.34