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which of the following is a reason why the aggregate demand curve slopes downward a at a higher price level fewer goods and services are available b
how much more did the average household spend on appliances electronics and furniture when it received the 2008 tax rebate b if all 110 million
minimum wage laws are common in many countries the debate over minimum wage includes claims about the impact of this action on employment levels and
your company has asked you to analyze two mutually exclusive projects for the coming year project a will have an initial outlay of 7200 project b
three defective electric tooth brushes were shipped to a drug store by clean brush products along with 17 non defective onesa what is the probability
a student is taking two courses history and math the probability that the student will pass the history course is 60 and the probability of passing
the events x and y are mutually exclusive suppose px05 and py 02 what is the probability of either x or y occurring what is not probability of x nor
a sample of 2000 licensed drivers revealed the following number of speeding violations 0 violations for 1910 drivers 1 violations for 46 drivers 2
explain the elasticity concept as it applies to necessities and luxuries calculate the price elasticity of demand when p 160 - q 480 and when p240 -
the marginal approach to profit maximization means that a firm should produce until a marginal revenue equals zero b marginal revenue equals marginal
this economics of scale exist for all of the following reasons except a bureaucratic inefficiencies b management problems c failures in information
which of the following statements is truea economic profit equals accounting profit minus implicit costsb the short run is any period of time in
the opportunity costs associated with the use of resources owned by a firm area externalitiesb implicit costsc explicit costsd sunk
a young chef is considering opening his own sushi bar to do so he would have to quite his current job which pays him 20000 a year and take over a
if a 10 decrease in the price of product a brings about a 3 increase in the sales of product b thena product a and b are complementaryb the cross
a good is classified as inferior ifa consumers buy less when the price risesb consumers buy less when the income risesc consumers buy less when the
for which of the following medical goods or services is the income elasticity of demand largesta emergency services after a car accidentb measles
a health club sells 50 memberships when the monthly price is 60 and 70 memberships when the monthly price is 40 the price elasticity of demand for
suppose that the us department of agriculture usda administers the price floor for cheese set at 017 per pound of cheese the price floor is
if the price elasticity of demand is computed for two products and product a measures 79 and product b measures 16 then a product a is more price
the fact that price and quantity demanded are related negatively illustrates thea law of supplyb law of quantity supplyc law of demandd law of
using a production possibilities curve an economy that produces an output combination less than the maximum possible is depicted by a point locateda
according to the imperfect-information model when the price level is greater than the expected price level output will the natural level of outputa
the phillips curve in lowland takes the form of 004 - 05 u - 005 where is the actual inflation rate and u is the unemployment rate the phillips
when a country abandons its national currency and adopts the currency of the united states this is known as a a floating exchange rate system b