Investment spending, capital formation, and rapid technological progress are directly related
a. True
b. False
Indicate whether the statement is true or false
True
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As an economic concept, scarcity applies to
A) both money and time. B) money but not time. C) time but not money. D) neither time nor money.
If the supply curve is perfectly inelastic and the demand curve is a downward sloping straight line, what is the effect of a consumer ad valorem tax on equilibrium price and quantity?
A) Price remains unchanged and quantity increases. B) Price decreases and quantity increases. C) Price decreases and quantity remains unchanged. D) Price and quantity decrease.
Consider the demand functions:
A) Qd = 250 - 2P B) Qd = 300 - 3P Which of the demand functions reflects a higher level of consumer incomes? A) A B) B C) A and B reflect the same consumer incomes. D) More information is needed.
As the economy moves down and to the left along a short-run aggregate supply curve, it: a. moves up and to the right along the short-run Phillips curve. b. moves up and to the left along the short-run Phillips curve
c. moves down and to the left along the short-run Phillips curve. d. moves down and to the right along the short-run Phillips curve.