Which of the following prices could represent Sally's willingness to pay for a pair of shoes if she bought them for $45?
A. $15.00
B. $25.00
C. $44.99
D. $55.00
D. $55.00
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Regarding the role of saving in economic growth, studies indicate that
A) there is both a positive and a negative relationship between economic growth and saving. B) there is a positive relationship between economic growth and saving. C) there is a negative relationship between economic growth and saving. D) there is no relationship between economic growth and saving.
An increase in the time spent on job search
A) decreases the unemployment rate. B) decreases the real wage rate. C) decreases the labor force participation rate. D) decreases potential GDP. E) decreases the demand for labor.
If the price of a video rental is below its equilibrium price, there will be a ________ of video rentals and the price will ________
A) shortage; rise B) shortage; fall C) surplus; rise D) surplus; fall
John Maynard Keynes and his followers argued that
a. the classical model does a good job of explaining the economy's operation in both the short run and long run b. the short run is unimportant so economists should focus their attention on the long run c. the economy should be allowed to function with minimal government interference d. the economy operates the same way in both the short run and long run e. while the classical model might explain economic performance in the long run, the long run could take a long time to reach