When a country's real GDP is increasing at a faster rate than its population.
What will be an ideal response?
per capita GDP will be rising
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If the demand for good A is more elastic than the demand for good B, a small increase in supply in both markets will cause
a. a much greater decrease in price for good A than for good B b. a much greater decrease in price for good B than for good A c. the price will decrease by the same amount in both markets d. only the price of good B will decrease e. only the price of good A will decrease
Which of the following equations is correct?
A) Saving = Disposable income + Consumption B) Saving = Disposable income x Consumption C) Disposable income = Consumption - Saving D) Saving = Disposable income - Consumption
If the demand for pizza increases, then as a result, it is highly likely that the demand for:
A. soda will increase. B. mozzarella cheese will increase. C. chicken nuggets will fall. D. All of these are a likely result.
Which of the following is an accurate statement about interest rates?
a. Increases and decreases in money supply have the largest effect on gross interest rates. b. Increases and decreases in money supply have the largest effect on real interest rates. c. When the short-term nominal interest rate changes, the long-term real interest rate often changes in the opposite way. d. When the short-term nominal interest rate changes, the long-term real interest rate often changes in the same way.