Keynesians challenge the classical or monetarist view that payment schedules and patterns of spending and saving associated with the transactions demand for money are basically stable
Indicate whether the statement is true or false
F
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The slope of the consumption function
A. equals 1. B. is horizontal. C. equals the MPC. D. is vertical.
You are made better off in which of the following situations?
A) you borrow $10,000, you earn income in pesos, the dollar depreciates against the peso, you must pay back the loan in dollars B) you borrow 10,000 pesos, you earn income in pesos, the dollar depreciates against the peso, you must pay back the loan in pesos C) you borrow $10,000, you earn income in pesos, the dollar appreciates against the peso, you must pay back the loan in dollars D) you borrow 10,000 pesos, you earn income in dollars, the dollar depreciates against the peso, you must pay back the loan in pesos
If a country is subject to increasing opportunity costs, its national supply curve (i.e. the locus of national output levels of S at various relative prices of S) will have a ________ slope
A) flat B) positive C) negative D) bowed out
As people's incomes rise, they tend to purchase relatively less ________ and relatively more ________
A) durable goods; nondurable goods B) nondurable goods; services C) services; durable goods D) services; nondurable goods