Refer to Table 21.1. What is the mean income on Richlandia?
A) $40,000
B) $69,000
C) $75,000
D) $85,000
B
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A rise in the real interest rate
A) shifts the demand for loanable funds curve rightward. B) shifts the demand for loanable funds curve leftward. C) creates a movement upward along the demand for loanable funds curve. D) creates a movement downward along the demand for loanable funds curve.
By offering more generous unemployment insurance programs, European countries can expect
A) workers to gain new skills quickly in response to fluctuations in the labor market. B) longer periods of unemployment for their workers. C) to pay less in taxes than in the United States. D) shorter periods of unemployment for their workers.
During the Great Depression of 1929–1933,
a. the Fed allowed the money supply to contract substantially. b. the Fed increased the money supply sharply. c. Congress cut tax rates sharply. d. Congress cut tariffs substantially.
For any horizontal demand curve, the price elasticity of demand is:
A. infinite. B. 1. C. equal to the price of the good. D. 0.