If input prices adjusted just as quickly as output prices, the profit effect leading to an increase in RGDP supplied would disappear
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose the demand function for a consumer is given by 
a. What is the own-price elasticity of demand for x?
b What is the cross-price elasticity of demand for x?
c. What happens to spending on x as the price of x increases?
d. What is the income elasticity of demand for x? What does this tell you about what kind of good x must be?
What will be an ideal response?
What is a commitment device?
What will be an ideal response?
Which of the following is included in M0, but not in M1?
A) demand deposits B) deposits of depository institutions at the Federal Reserve C) currency held by the U.S. public D) U.S. currency held by foreigners
The quantity demanded of a good is the amount that buyers are
a. willing to purchase. b. willing and able to purchase. c. willing, able, and need to purchase. d. able to purchase.