All normal goods have
A) income elasticities of demand greater than 1.0.
B) price elasticities of demand greater than 1.0.
C) negative price elasticities of demand.
D) positive income elasticities of demand.
D
Economics
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According to the AS-AD model, when real GDP exceeds potential GDP, the unemployment rate is definitely
A) less than the natural unemployment rate. B) greater than the natural unemployment rate. C) rising. D) falling. E) equal to the natural unemployment rate.
Economics
Describe the three basic tools used by the Fed to change the money supply. Which of these tools is most relied on in practice? Least relied on? Why?
What will be an ideal response?
Economics