A stock market boom leads to greater investment by firms.
Answer the following statement true (T) or false (F)
True
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Necessities such as food and shelter have inelastic demand.
Answer the following statement true (T) or false (F)
A rightward shift of the money supply ________
A) may come about from an increase in the quantity of money supplied by the Federal Reserve B) may come about from a decrease in the price level C) leads to a decrease in interest rates ceteris paribus D) all of the above E) none of the above
Every point on the joint production possibilities frontier represents
A) an initial endowment. B) inefficient production. C) the marginal rate of substitution of goods for each producer. D) at least one producer specializing in production.
The effect of a quota is to
A) increase quantity supplied and lower price. B) increase quantity supplied and increase price. C) increase demand for the good and increase price. D) reduce quantity supplied and raise price.