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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
those economists who believe that monetary policy is more potent than fiscal policy argue that the a responsiveness of money demand to the interest
the pigou effecta suggests that as prices fall and real money balances rise consumers should feel less wealthy and spend lessb suggests that as
consider the impact of an increase in thriftiness in the keynesian-cross analysis assume that the marginal propensity to consume is unchanged but the
assume that the money demand function is mp d 2200 - 200r where r is the interest rate in percent the money supply m is 2000 and the price level p
the exante real interest rate is based on inflation while the ex post real interest rate is based on inflationa expected actualb core actualc
if the price level depends on both the current money supply and future expected money supplies in order to stop a hyperinflation a central bank may
a farmer grows wheat and sells it to a miller for 1 the miller turns the wheat into flour and sells it to a baker for 3 the baker uses the flour to
imputed values included in gdp are thea market prices of goods and servicesb estimated value of goods and services that are not sold in the
according to bowen leamer and sveikauskas which of the following is truea a nation indirectly exports its most abundant factors of productionb a
suppose nigeria has 20 million workers and 16 million units of capital while botswana has 5 million workers and 35 million units of capital which of
which of the following is an important consideration in short run factor-proportions trade analysisa comparative advantages only occur in theoryb
if a nation were to experience an influx of foreign labor into the market for corn production the production possibilities frontier for the nation
which of the following statements regarding the heckscher-ohlin model and ricardian trade theory is truea both the heckscher-ohlin and ricardian
in the heckscherohlin model a decrease in the factors of production required to produce rice and beans woulda shift the production possibilities
a firm conducted a research about the demographics of their customers for the study they collected data about the following variables gender marital
the nj bureau of employment gathered the following sample information on the number of hours unemployed workers spent looking for work last week
the weights of a sample of five boxes being sent by fedex are 48 24 28 12 and 40a compute the rangeb compute the mean deviationc compute the standard
analyze how a model of the labor market can be used to explain wage and employment for healthcare