The industrial revolution began around the year _____.
A. 1650
B. 1750
C. 1850
D. 1950
B. 1750
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Refer to Figure 27-1. An increase in taxes would be depicted as a movement from ________, using the static AD-AS model in the figure above
A) A to B B) E to B C) B to C D) C to D E) B to A
?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Which of the following is true?
A. Mia has an absolute advantage in producing hair pins but not bandanas. B. Mia has an absolute advantage in producing bandanas but not hair pins. C. Mia has an absolute advantage in producing both goods. D. Mia does not have an absolute advantage in producing either good.
) Are wages more flexible upward or downward? Explain what effect this has during a time of expansion and a time of recession.
What will be an ideal response?
The price of season tickets to a performing arts theater decreases by 3 percent. As a result, the quantity demanded increases by 6 percent. The price elasticity of demand for season tickets is:
A. 0.5 B. 9 C. 2 D. 18