Which currency is most commonly traded?
What will be an ideal response?
The U.S. dollar
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The belief that everyone should have exactly the same amount of income is
A) merit standard. B) comparable-worth doctrine. C) egalitarian principle. D) Lorenz principle.
One similarity between the beliefs of the classical economists and Keynes is that increased saving would necessarily stimulate an equal amount of increased investment spending
Indicate whether the statement is true or false
If the perceive real wage goes up, real GDP increases:
a. unless the actual real wage remains the same or falls. b. in the short run. c. in the long run. d. all of the above.
The price of pens increases from $2 to $2.20. At the same time, the quantity of pens demanded decreases from 100 to 90. Demand for pens is:
A. perfectly inelastic. B. inelastic. C. unit elastic. D. elastic.