McDonald's introduced the Big Mac in 1968, and it turned out to be a hit. However, the Arch Deluxe, introduced in 1996, was not. The success or failure of a product in the market system is determined by
What will be an ideal response?
consumer sovereignty and dollar
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The first systematic attempt to explain the determinants of the price level and national levels of income, employment, consumption and real Gross Domestic Product (GDP) was made by ________ economists
A) supply-side B) classical C) Keynesian D) monetarist
The marginal propensity to consume plus the marginal propensity to save is always
A) equal to zero. B) greater than zero but less than one. C) equal to one. D) greater than one.
Which of the following summarizes the limitations of monetary policy?
A. The Fed is most effective at influencing long-term interest rates but is unable to have a short-run impact on the economy. B. The Fed directly sets all interest rates, but no interest rate has any short-run effect on the economy. C. The Fed can directly influence many different interest rates, but it can only influence them a little bit. D. The Fed has a lot of control over just one interest rate, and interest rates influence economic activity in the short run only.
A rise in the real exchange rate is called
A. a real depreciation. B. a real devaluation. C. a real bargain. D. a real appreciation.