Without which of the following would there be no economics?
a. professors
b. government
c. money
d. freedom
e. scarcity
E
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Joe buys chicken and beef. If the price of beef rises and the price of chicken does not change, Joe will buy ________ for the CPI
A) more beef and create a new goods bias B) more chicken and create a commodity substitution bias C) the same quantity of beef and chicken and create a commodity substitution bias D) less chicken and beef and create a quality change bias E) more chicken and eliminate the commodity substitution bias
Refer to Figure 16-5. Suppose the firm represented in the diagram decides to use a two-part pricing strategy such that it charges a fixed fee and a per-unit price equal to the monopoly price
What is the revenue collected from the fixed fee portion of the price? A) $10,240 B) $7,870 C) $2,560 D) $1,440
The following figure introduces the relationship between industrial production and wholesale price index changes between the years 1929-1935. What is the purpose of the following figure?
What will be an ideal response?
During the period from 1950 to 2000, the Labor Force Participation Rate
A. remained remarkably constant. B. increased due largely to teens entering the labor force. C. fell. D. increased due largely to women entering the labor force.