The elasticity of savings with respect to interest rates is the percentage change in the quantity of savings divided by the percentage change in interest rates.
Select whether the statement is true or false.
A. True
B. False
A. True
This statement is true. The elasticity of savings with respect to interest rates is the percentage change in the quantity of savings divided by the percentage change in interest rates.
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Suppose that one can read a graph that shows information about price and quantity of some product. Relying solely on the graph, is it possible to explain the relationship between the two variables?
What will be an ideal response?
Maximizing surplus in a market depends not only on the amount bought and sold, but also on:
A. how productive the sellers are. B. who buys and sells it. C. what those consumers do with it. D. None of these statements is true.
In both Gamma and Delta average labor productivity is $40,000 per worker per year. The population of Gamma is 200,000 and the population of Delta is 400,000. Fifty percent of the population in each country is employed. Total output in Gamma is ________ and total output in Delta is ________.
A. $8 billion; $16 billion B. $4 billion; $8 billion C. $100,000; $200,000 D. $2.4 billion; $4.8 billion
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. When moving from Period 1 to Period 4, the marginal return to capital
A. increases. B. decreases. C. does not change. D. first increases, then decreases.