Gold is a perfect medium of exchange and measure of value because of its
a. divisibility, portability, and homogeneity
b. divisibility and durability
c. durability and relative scarcity
d. durability and homogeneity
e. divisibility, durability, and relative scarcity
A
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Refer to the scenario above. If Sarah is optimizing in differences, then which of the following statements is true?
A) An optimizer will rent the hotel room for three days if the net benefit of staying for three days exceeds the net benefit of staying for two days. B) An optimizer will rent the hotel room for three days if the cost of staying for the first two days is less than the cost of staying for the third day. C) An optimizer will rent the hotel room for three days if the benefit of staying for the third day exceeds the benefits of staying for the first two days. D) An optimizer will rent the hotel room for three days if the benefit of staying for the third day exceeds the cost of staying for the third day.
Calculate the value of the government purchases multiplier if the marginal propensity to consume equals 0.9, the tax rate equals 0.25, and the marginal propensity to import equals 0.15
What will be an ideal response?