In the graph shown, which of the world supply curves create a trade surplus?
A. WAS0
B. WAS1
C. WAS2
D. None create surpluses.
Answer: A
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If out of the two cities that send teams to the Super Bowl, the city with the lowest unemployment rate wins 70 percent of the time, there would be:
A. a positive correlation between Super Bowl wins and low unemployment rates. B. evidence to conclude that richer cities always have better super bowl teams. C. the condition of ceteris paribus present in the winning cities. D. a negative correlation between Super Bowl wins and low unemployment rates.
A "kinked" demand curve reflects a tendency on the part of an oligopolist to:
a. follow price increases but not price reductions. b. following price reductions but not price increases. c. be unconcerned with rivals' behavior. d. None of these.
The supply-side checklist includes
a. higher taxes b. more government regulation c. more government spending d. less union power in wage determination e. raising transfer payments
The economist credited with pioneering the "new growth theory" is
A) Milton Friedman. B) Jia-Tzu Weng. C) Paul Romer. D) Julian Simon.