In an open economy firms sell goods and services to:
A) households, government, and foreigners.
B) just households.
C) just the government.
D) none of the above.
A
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Using the interest rate as a measure of the opportunity cost of holding money, the demand for money curve
A) slopes upward with respect to the rate of interest. B) is not affected by the price level. C) slopes downward with respect to the rate of interest. D) is vertical.
Contracts are distinguished from tactical alliances by which of the following characteristics:
a. involve sequential responses b. require third-party enforcement c. raise shareholder value d. elicit diminished reactions from competitors
If the quantity supplied of science fiction novels decreases by 3% and the price elasticity of supply is 15, what has been the percentage price change?
a. -15% b. -3% c. -5% d. -0.2%
Starting from an initial long-run equilibrium, an unanticipated shift to a more expansionary monetary policy would tend to increase
a. prices and unemployment in the long run. b. real output in the short run but not in the long run. c. real output in the long run but not in the short run. d. real output in both the long run and the short run.