What kind of changes would be expected in the demand of a country that has a growing population?
a) a rise in the demand for recreation
b) a shift in the demand for high-quality food
c) a rise in the demand for shelter
d) a lowering in the demand for automobiles
Ans: c) a rise in the demand for shelter
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If purchasing power parity exists and the exchange rate is 1.50 U.S. dollars per British pound, than a latte that has a price of $4.00 in San Jose, California, has a price of ________ in London, England
A) 2.67 pounds B) 4.00 pounds C) 8.00 pounds D) 0.37 pounds E) 6.00 pounds
Policies to create jobs in the nation are the concern of:
a. macroeconomics. b. microeconomics. c. both microeconomics and macroeconomics. d. neither microeconomics nor macroeconomics.
Why are average price and average quantity used to calculate the price elasticity of demand?
What will be an ideal response?
Increased investment spending in the economy would be a possible result of:
A. an increase in interest rates. B. an open market purchase of bonds by the Fed. C. an open market sale of bonds by the Fed. D. a decrease in the money supply.