Paul's monthly income decreased from $2,500 to $2,300. As a result, he decreased the number of DVDs he rents per month from 5 to 4. Paul's demand for DVD rentals is
A) price elastic.
B) price inelastic.
C) income elastic.
D) income inelastic.
C
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Which region has the most children (total number) working?
What will be an ideal response?
The Mokyr-DeCanio thesis states that real wages of Northern workers lagged behind price increases during the Civil War (1861–1865), thus shifting to the workers themselves a major part of the war's cost
Indicate whether the statement is true or false
Today, bank runs are not a major problem for the U.S. banking system because
a. bank runs are now illegal. b. banks now hold 100 percent of their deposits in reserve. c. banks are now all government-operated. d. the federal government now guarantees the safety of deposits at most banks.
An annually balanced federal budget
A. enables fiscal policy to be implemented in a timely and selective manner, without the drag on consumption and saving that is usually associated with federal borrowing. B. essentially eliminates the use of fiscal policy for stabilizing the economy. C. could bring the economy up to full employment if a deflationary GDP gap exists. D. would reduce tax collections, thereby stimulating aggregate demand.