Along a straight-line, slanted demand curve,
a. the price elasticity is constant.
b. the price elasticity varies along the line.
c. the price elasticity is the same as slope.
d. the price elasticity cannot be measured.
b. the price elasticity varies along the line.
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In Year 1 suppose the economy is at potential GDP and that the federal budget deficit equals $100 billion. In Year 2 the federal budget deficit rises to $150 billion, but the cyclically adjusted budget deficit falls to $75 billion
How can the actual budget deficit rise and the cyclically adjusted budget deficit fall?
The Federal Reserve System was established in 1913 in response to the
A) First World War. B) bank panic of 1907. C) depression of 1883. D) prosperity of the 1920s.
For a perfect competitor, the marginal revenue curve will be
A. vertical. B. negatively sloped. C. horizontal. D. positively sloped.
The incidence of absolute poverty is reduced by
A. economic growth. B. annual recalculations of the poverty line. C. government welfare programs. D. the size of the budget deficit.