Ceteris paribus, an increase in the money supply will lower short-term interest rates
Indicate whether the statement is true or false
TRUE
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What best describes the impact of the cotton gin?
a. A decrease in the price and an increase in the quantity of cotton. b. An increase in the price and a decrease in the quantity of cotton. c. Decreases in both the price and quantity of cotton. d. Increases in both the price and quantity of cotton.
Suppose that 50 ice cream cones are demanded at a particular price. If the price of ice cream cones rises from that price by 4 percent, the number of ice cream cones demanded falls to 46 . Using the midpoint approach to calculate the price elasticity of demand, it follows that the
a. demand for ice cream cones in this price range is elastic. b. demand for ice cream cones in this price range is inelastic. c. demand for ice cream cones in this price range is unit elastic. d. price elasticity of demand for ice cream cones in this price range is 0.
In an industry where transportation costs are high and there are limited scale economies,
A) firms will locate close to the market. B) firms will locate close to their input sources. C) firms might locate in either area. D) firms will locate where policy makers decide.
A sustained decrease in the price level is known as deflation
a. True b. False Indicate whether the statement is true or false