On a linear demand curve, demand is ________ at the middle of the demand curve than it is at small quantities.
A. more elastic
B. less elastic
C. equally elastic
D. There is insufficient information in the question.
Answer: B
Economics
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If the MPC = 0.75, MPS must be _______ and the income multiplier is _______
a. 0.25; 4 b. 0.25; 5 c. 0.75; 5 d. 1.50; 5 e. 4; 0.25
Economics
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Economics