Economists may disagree about how to solve an economic problem because they
a. use different models to analyze the problem and its solutions.
b. have different political and moral beliefs.
c. disagree about the facts of the situation.
d. All of the above are correct.
d
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If the income elasticity of money demand is 3/4 and the interest elasticity of money demand is -1/4, by what percent does money demand rise if income rises 10% and the nominal interest rate rises from 4% to 5%?
A) 7.50% B) 6.25% C) 5.00% D) 1.25%
Firms that choose to use a fixed-price policy:
A. Will tend to experience larger inventory changes than firms that follow a flexible-price policy B. Will tend to experience smaller inventory changes than firms that follow a flexible-price policy C. Find that their inventories do not respond to demand shocks D. Will not hold inventories