As the price elasticity of demand for an item increases, so does the firm's ability to mark up the price of the item above average cost

Prescott's calibrated RBC model showed that the actual and simulated ________ of five key macroeconomic variables were very close

A) magnitudes B) slopes C) volatilities D) betas

A $70 price tag on a sweater in a department store window is an example of money functioning as a:

A. unit of account. B. standard of deferred payments. C. store of value. D. medium of exchange.