Which of the following statements accurately describes the economy with a recessionary gap?
a. SRAS intercepts AD1 at RGDPNR.
b. RGDP1 is less than RGDPNR.
c. ESR occurs along LRAS.
d. SRAS intercepts LRAS at ESR.
b. RGDP1 is less than RGDPNR.
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If you are willing to purchase a house for $500,00 . and you purchase the house for $500,00 . , this transaction will generate:
a. There is no surplus created b. $0 worth of seller surplus and unknown amount of buyer surplus c. $0 worth of buyer surplus and unknown amount of seller surplus d. Not information provided
If the nominal money supply grows 6%, real income rises 2%, and the inflation rate is 5%, then the income elasticity of money demand is
A. 1.0. B. 0.75. C. 0.5. D. 1.5.
The table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The total value of donations raised by three employees is:
A. $48,911. B. $51,963. C. $43,899. D. $45,000.
Barter eliminates the double coincidence of wants
Indicate whether the statement is true or false