Recall the Application about the free-agent market for professional baseball pitchers to answer the following question(s).Recall the Application. Free-agent baseball pitchers who switch teams spend a relatively long time on the disabled list compared to those who do not switch teams.
Answer the following statement true (T) or false (F)
True
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In the simple liquidity preference model, if the money demand curve is elastic, then:
A. small changes to the money supply will cause large changes to the interest rate. B. only large changes to the money supply will cause large changes to the interest rate. C. small changes to the money supply will cause insignificant changes to the interest rate. D. even large changes to the money supply will cause small changes to the interest rate.
If the nominal interest rate is 7 percent and the real interest rate is -2.5 percent, then the inflation rate is
a. -9.5 percent. b. -4.5 percent. c. 4.5 percent. d. 9.5 percent.
Suppose the price of a scientific calculator is $80. If Juan is willing to pay $100 for that scientific calculator, his consumer surplus when he purchases the calculator is:
A. $0. B. $10. C. $20. D. $30.
Refer to the table shown to answer the question. Between $2 and $2.20, demand is:PriceQuantity Demanded$1.60130$1.80120$2.00110$2.20100$2.4090$2.6080
A. elastic. B. inelastic. C. unit elastic. D. perfectly elastic.