The era of free agency dawned in major sports in
A. 1985.
B. 1977.
C. 1998.
D. 1946.
Answer: B
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Suppose private saving in a closed economy is $12b and investment is $10b
a. National saving must equal $12b. b. Public saving must equal $2b. c. The government budget surplus must equal $2b. d. The government budget deficit must equal $2b.
Vineyards can grow either red wine grapes or white wine grapes on their land. Which of the following would cause the supply of red wine grapes to decrease?
A) an increase in the price of white wine grapes B) an increase in the demand for red wine grapes C) a decrease in the price of white wine grapes D) an increase in the price of red wine
Which of the following is explained by the price elasticity of demand for a product?
a. The effect of changes in price on the supply of the product b. The effect of changes in quantity on the supply of the product c. The effect of changes in quantity on the price of the product d. The effect of changes in price on the quantity demanded of the product e. The effect of changes in price on the quantity supplied of the product
Empirical research has shown that:
A. during the 1980s and 1990s, the velocity of money actually decreased as the opportunity cost of holding money increased. B. in the 1990s and 2000s, velocity was less sensitive to an increase in the opportunity cost of holding money than in the 1980s. C. in the 1990s and 2000s, velocity was more sensitive to an increase in the opportunity cost of holding money than in the 1980s. D. during the 1980s and 1990s, the velocity of money was not sensitive to changes in the opportunity cost of holding money.