Recall the Application about how the collapse of the housing boom and the worldwide recession of 2007 led to problems for some countries in the Euro-zone to answer the following question(s). When the euro was launched in 1999, the vision of its founders was to use the monetary union to further unify Europe economically and politically. They envisioned a large economic market, comparable to the United States with integrated goods and financial markets. They believed that by moving to a single currency with agreements on a number of fiscal rules that they could achieve economic stability and growth.Recall the Application. Unlike the Euro-zone, the United States does not just have a single currency, but also has a ________ that provides transfers to areas in economic distress.
A. single central bank
B. national trade agreement
C. unified fiscal system
D. federally funded emergency account
Answer: C
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Refer to the table above. If the price of a chair decreases to $5 and the rental price of machines is $50 per day, up to how many machines should the firm rent?
A) 2 B) 3 C) 5 D) 7
Each of the following consumers exhibit behavior that violates one of the basic assumptions of consumer preferences. Identify the assumption that is violated for each individual
? Art says that he can watch 2 movies a week but couldn't be paid to watch another movie after that. ? Alex says that he prefers going to a movie over hiking. He also indicates that he prefers hiking to swimming. Alex then states that he would rather go swimming than go to a movie. ? Alicia says that she prefers hiking to watching a movie but can't determine her preferences for swimming.
The study of how a particular firm might choose to maximize its profits would fall into what type of analysis?
A) macroeconomics B) microeconomics C) labor economics D) aggregate economics
The Parks and Recreation department is trying to decide whether it should continue, expand, or cancel the laser show program. Laser Tech Co can provide the standard 20-minute display that the county typically books for $20,000 or put together a deluxe 50-minute program complete with a grand finale for $30,000 . They also offer a budget laser show, 12 minutes long, for $10,000 . Typically, about
15,000 community members attend the show, and research has shown that attendees would be willing to pay $2 per person. Which of these is the best choice for the Parks and Recreation Department? a. Cancelling the laser show b. Booking the budget laser show c. Booking the standard laser show d. Booking the deluxe laser show