There is very little intergenerational mobility; the children of the rich stay rich and the children of the poor stay poor
Indicate whether the statement is true or false
F
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When disposable income increases,
A) the consumption function shifts downward. B) there is a movement downward along the consumption function, but the consumption function does not shift. C) there is no movement along the consumption function, and the consumption function does not shift. D) the consumption function shifts upward. E) there is a movement upward along the consumption function, but the consumption function does not shift.
Which of the following statements is true?
a. Cost-push inflation is caused by an increase in resource costs. b. If nominal interest rates remain the same and the inflation rate falls, real interest rates increase. c. All of the answers are correct. d. Demand-pull inflation is caused by excess total spending. e. If real interest rates are negative, lenders incur losses.
The quantity equation relates a measure of the money supply (M), to the velocity of money (V), the GDP deflator (P) and real GDP (Y). Which of the following expression accurately describes the quantity equation?
What will be an ideal response?
The demand for euros in the foreign exchange market equals 8,000 - 2,000 e and the supply of euros in the foreign exchange market equals 3,000 + 3,000 e, where e is the nominal exchange rate expressed in U.S. dollars per euro. If the euro is fixed at 0.85 U.S. dollars per euro, then the euro is ________ and Euroland has a balance-of-payments ________.
A. overvalued; deficit of 750 euros B. overvalued; surplus of 750 euros C. undervalued; surplus of 750 euros D. undervalued; deficit of 750 euros