The average price of goods and services in the economy is also known as
A) the cost of living. B) the inflation rate. C) a market basket. D) the price level.
D
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What factors other than the wage rate influence the demand for labor? How is demand affected by changes in these factors?
What will be an ideal response?
Which of the following does NOT explain the extent of trade between Ireland and the U.S.?
A) historical ties B) cultural Linguistic ties C) Gravity Model D) multinational corporations E) large numbers of Irish-Americans
Government attempts to set prices below market equilibrium can:
A. lead to more producer surplus. B. encourage more production. C. reduce the total surplus in the market. D. always create a better outcome.
The value of a loan of $50,000 after a year at 2 percent interest is:
A. $49,000. B. $1,000. C. $52,000. D. None of these is true.