The production function shows the relationship between the price and the quantity of a good
a. True
b. False
Indicate whether the statement is true or false
False
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Fantastic Cuts Hair Salon knows that a 15% increase in the price of their haircuts will result in a 5% decrease in the number of haircuts sold. What is the elasticity of demand facing Fantastic Cuts?
a. 0.05 b. 0.10 c. 0.33 d. 3.0
Which of the following news stories? (all published in early? 2014) would typically be studied in? macroeconomics? ?(Select all that apply?.)
A."5 Reasons Why Apple is Looking Like the Next? Sony" B. "Expectations High for March? Employment." C. "What If Economic Growth Is No Longer? Possible?" D. "We Believe Inflation Should Rule Monetary? Policy." E. "Which College-Which Major-Will Make You Richest."
A competitive firm's short-run supply curve is perfectly elastic.
Answer the following statement true (T) or false (F)
Which of the following is TRUE of the cap-and-trade program in the United States?
A. The state of Texas is currently the only state in the U.S. that has not implemented a cap-and-trade program. B. The United States implemented the cap-and-trade program immediately after signing the Paris Agreement on Climate Change in 2015. C. All states in the U.S. have implemented a cap-and-trade program before the Paris Agreement on Climate Change in 2015 D. The state of California began a cap-and-trade program in 2013.