If real income rises 5%, prices rise 3%, and nominal money demand rises 7%, what is the income elasticity of real money demand?

An increase in consumer spending based on an increase in income is reflected by

A) an upward rotation of the consumption function. B) a downward shift in the consumption function. C) a movement up along the consumption function. D) an increase in the MPC.

Difficulties in measuring the unemployment rate and its component parts make crafting policy difficult

Indicate whether the statement is true or false