According to the textbook, the income elasticity of demand is:
A about the same in the short run and in the long run.
B much smaller in the short run than in the long run.
C much larger in the short run than in the long run.
D is difficult to differentiate from the short run to the long run.
C much larger in the short run than in the long run.
Economics
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The nominal rate of interest is
A) the interest rate observed in today's market. B) the interest rate observed in the market minus the inflation premium. C) not influenced by inflation. D) a value that depends upon the stock market.
Economics
Which of the following services is performed by the regional Federal Reserve banks?
A. Issuing government bonds. B. Holding bank reserves. C. Bailing out or liquidating failed banks. D. Determining open market operations.
Economics