When the credit demand curve is relatively steep:
A) the quantity of credit demanded is relatively sensitive to changes in the tax rates.
B) the quantity of credit demanded is not very sensitive to changes in the real interest rate.
C) the quantity of credit demanded is relatively sensitive to changes in the real interest rate.
D) the quantity of credit demanded is not very sensitive to changes in the tax rates.
B
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Since few Americans would ever be willing to pay more for a sandwich than for a pair of jeans,
A) for most Americans clothing is more important than food. B) for most Americans clothing is more valuable than food. C) for most Americans clothing has more monetary value than food. D) most Americans derive their values from the culture rather than biological necessities. E) most Americans have little difficulty obtaining enough to eat.
An economic model is a simplified version of reality used to analyze real-world economic situations
Indicate whether the statement is true or false
_________________—a term referring to the putting advances in knowledge to use in a new product or service.
a. Production function b. Invention c. Innovation d. Technological change
What are the factors that contribute to productivity growth in the market economy and which of them is considered most important?