In recent years, the U.S. labor force has experienced
a. an increase in the percentage of manufacturing workers.
b. an increase in the percentage of older workers.
c. an increase in the percentage of females.
d. an increase in the percentage of unskilled workers.
c. an increase in the percentage of females.
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When the price of margarine is $2 per unit, 10 units of butter are demanded. When the price of margarine increases to $6 per unit, 30 units of butter are demanded. What is the cross-price elasticity between the two goods?
A) -1 B) 1 C) 2 D) 5
Refer to the figure above. In autarky equilibrium, the relative price is given by the slope of the production possibility frontier at point
A) D. B) E. C) F. D) Can't answer without more information.
The model of aggregate demand and aggregate supply can NOT be used to:
A. discuss the pros and cons of income tax cuts. B. evaluate a tax cut's effect on short run economic fluctuations. C. assess a tax cut's effect on longer run issues such as the national debt. D. to discuss income distribution.
How does a change in investment spending affect aggregate demand?
What will be an ideal response?