The theory that most economists rely on to explain inflation is called the __________
Fill in the blank(s) with correct word
classical theory
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If an increase in income leads to an increase in the demand curve for sailboats, this will lead to
A. higher prices of sailboats. B. lower prices of sailboats. C. a corresponding shift in the supply curve for sailboats. D. reduced output of sailboats. E. no change in the price of sailboats.
The price of beef increased by 20 percent and the quantity supplied increased by 10 percent. The supply of beef is
A) elastic. B) perfectly elastic. C) perfectly inelastic. D) inelastic. E) unit elastic.
Please consider Table 22-2 below. Assuming constant Annual Average Growth Rate in the future, calculate the output per capita for the United States and South Korea for the year 2040
What will be an ideal response?
That part of national income not spent on consumption is defined as
a. transitory income b. permanent income c. disposable income d. autonomous consumption e. saving