Which of the following statements best summarizes why buffalo almost became extinct during the 1800s?
a. Hunters from the East refused to respect the buffalo as the American Indians did.
b. Demand for buffalo meat was high in Eastern markets.
c. No one owned a buffalo until it was killed.
d. Buffalo do not run away upon hearing rifle shots.
c
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When the rate of appreciation of the nominal exchange rate equals the foreign inflation rate minus the domestic inflation rate, we say there is
A) relative purchasing power parity. B) purchasing power parity. C) a Phillips curve. D) an aggregate supply shock.
An imposition of tax by the government for funding welfare programs raises the cost of labor to firms as:
a. the demand for labor increases. b. the demand for labor decreases. c. the supply of labor decreases. d. the supply of labor increases. e. the opportunity cost of leisure increases.
If postal workers lose their positions because of the widespread e-mailing, texting, and faxing, it would likely _______ the natural rate of unemployment
a. increase. b. not change. c. decrease d. Have an unpredictable effect on.
According to below graph, what is the total utility of the first slice of pizza?
a. 0
b. 10
c. 20
d. 30