Goods with close substitutes tend to have more elastic demands than do goods without close substitutes
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose output is $35 billion, government purchases are $10 billion, consumption is $15 billion, and net exports are $4 billion. Assume net factor payments equal 0
(a) Calculate the equilibrium amount of investment. Show your work. (b) Calculate the equilibrium amount of absorption. Show your work. (c) Calculate the equilibrium amount of the financial account balance. Show your work.
Which of the following is a simultaneous decision game?
A) Tic-tac-toe B) Chess C) Poker D) Rock-paper-scissors
Suppose the growth rate of Carolina is 5 percent. According to the rule of 70, it will take _____ years for the economy to double in size
a. 20 b. 14 c. 30 d. 40
In the event of a recession, the fiscal policy measures favored by most liberals would involve ________.
Fill in the blank(s) with the appropriate word(s).