The price of gold is often volatile because:
A. supply is relatively inelastic so changes in demand have a large effect on price.
B. supply is relatively elastic so changes in demand have a large effect on price.
C. demand is relatively elastic so changes in supply have a large effect on price.
D. demand is relatively inelastic so changes in supply have a large effect on price.
Answer: A
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The actual budget deficit is equal to the
A) structural deficit minus the cyclical deficit. B) structural deficit plus the cyclical deficit. C) cyclical deficit minus the structural deficit. D) cyclical deficit. E) structural deficit.
In the above figure, the amount of tax revenue is
A) $2,000. B) $4,000. C) $6,000. D) $8,000.
Its lunch time, you are hungry and would like to have some pizza. By the law of diminishing marginal value,
a. you would pay more for your first slice of pizza than your second b. you would pay more for your second slice of pizza than your first c. you would pay an equal amount of money for both the slices since they are identical d. none of the above
Which department in a modern university would most likely advertise itself as a promoter of modern growth theory?
a. computer science b. accounting c. economics d. history