In the long run, price elasticities of demand are usually
A. greater than they are in the short run because consumers have time to adjust.
B. the same as they are in the short run because tastes don't change.
C. less than they are in the short run because prices rise over time.
D. less than they are in the short run because real prices fall over time.
Answer: A
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In the short-run macro model, cyclical unemployment is caused by insufficient spending
a. True b. False
Checkable deposits are money because they are:
A. acceptable in exchange. B. legal tender. C. fiat money. D. token money.
Which of the following statements about the multiplier is most accurate?
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