In order for the crude quantity theory to be valid, ______ and ______ need to be constant.
Fill in the blank(s) with the appropriate word(s).
V; Q
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If the required reserve ratio decreases, the
Last year, Jim bought 8 tickets to sporting events when his income was $30,000 . This year, his income is $33,000 . and he purchased 10 tickets to sporting events. Holding other factors constant and using the midpoint method, it follows that Jim's income elasticity of demand is about
a. 0.43, and Jim regards tickets to sporting events as inferior goods. b. 0.43, and Jim regards tickets to sporting events as normal goods. c. 2.33, and Jim regards tickets to sporting events as inferior goods. d. 2.33, and Jim regards tickets to sporting events as normal goods.
In 2010, about what percentage of the world's land area was forested?
A. 10 percent B. 30 percent C. 50 percent D. 75 percent
Refer to Table 11.1. If exports increase by 20 (X = 100), what is the new equilibrium level of output?
A) 1,825 B) 2,425 C) 7,300 D) 9,700