Which of the following occupations would a major in economics be useful for?
A. management-analyst
B. real estate appraiser
C. financial analyst
D. All of these are correct.
Answer: D
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
The markups restaurants apply to various items are heavily influenced by the price elasticity of the demand for each item
Indicate whether the statement is true or false
Which of the following is true regarding scarcity?
a. Scarcity could be eliminated if all economies of the world would work together to solve world hunger. b. Scarcity could be eliminated if we had full employment. c. It is impossible to eliminate scarcity, given limited resources and unlimited wants. d. Scarcity could be eliminated if all economies of the world would adopt communism. e. Scarcity could be eliminated if all economies of the world would adopt a free market system.
Government polices sometimes have unintended consequences. Give an example of one
Please provide the best answer for the statement.