Technological advance is very tightly intertwined with:
A. Capital formation
B. Household consumption
C. Government spending
D. Population growth
A. Capital formation
Economics
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If bus travel is an inferior good, then its income elasticity of demand will be:
a. strictly greater than one. b. positive. c. equal to zero. d. negative.
Economics
Suppose that your bank pays 5 percent interest on your savings account balance. Is this the nominal or real interest rate? What would be your real interest rate?
Economics