In Graph D, which of the following would cause the market curve to shift to the left?
a. a change from Q1 to P2 in Graph C
b. a change from P1 to Q2 in Graph C
c. a change from P1 to P2 in Graph C
d. a change from Q2 to Q1 in Graph C
d. a change from Q2 to Q1 in Graph C
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You want to run a difference-in-difference experiment with a price increase for your lawn chairs in Miami, FL. If you are worried about the "representativeness" of your control group, a good comparison city would be
a. Boston, MA b. San Francisco, CA c. St. Paul, MN d. Tampa Bay, FL
Which of the following is the formula for calculating compound interest?
a. Compound interest = Future Value – Present Value b. Compound interest = Future Value + Present Value c. Compound interest = Future Value – Principal d. Compound interest = Present Value + Principal
The highest-income fifth of the U.S. population earns more than 50 percent of all income.
Answer the following statement true (T) or false (F)
When the price of cheddar cheese increases 15%, quantity demanded decreases 15%. The price elasticity of demand for cheddar cheese is ________ and total revenue from cheddar cheese sales will ________.
A. elastic; increase B. unit elastic; not change C. elastic; decrease D. inelastic; decrease