The elasticity of demand for salt is:
a. highly elastic
b. highly inelastic.
c. equal to zero.
d. infinitely elastic.
b
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In a certain economy, the components of aggregate spending are given by:C = 60 + 0.6(Y - T) - 1,000rI = 200 - 1,000rG = 200NX = 50T = 100Given the information about the economy above, what is the short-run equilibrium output if the real interest rate is 6 percent?
A. 825 B. 450 C. 925 D. 330
Treasury bonds are so safe (risk-free) that they often pay relatively low returns.
Answer the following statement true (T) or false (F)
Refer to Figure 6.1. Suppose the economy is originally in steady state at k*1. If the saving rate increases from s1 to s2,
A) depreciation becomes greater than investment. B) investment becomes greater than depreciation. C) investment becomes greater than saving. D) saving becomes greater than investment.
Autarky is the situation of national self-sufficiency, in which there is no economic interaction with foreign producers or consumers
Indicate whether the statement is true or false