An increase in the price of oil will likely cause which of the following?
A) increase the markup in the Phillips curve equation
B) increase the sum "m + z" in the Phillips curve equation
C) increase the natural rate of unemployment
D) all of the above
E) none of the above
D
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In the figure above, the total benefit from pizza is ________ per day
A) $100,000 B) $50,000 C) $125,000 D) $150,000 E) None of the above answers is correct.
Refer to the above figure. If the government imposes a price ceiling of $60
A) the quantity traded will be 150, and the price will be $40. B) the quantity traded will be 100, and the price will be $60. C) the quantity traded will be 200, and the price will be $60. D) the quantity traded will be 150, and the price will be $60.
An example of a nonrenewable resource would be:
A. a computer. B. wireless technology. C. sunlight. D. None of these is considered a nonrenewable resource.
All but one of the following people were awarded a Nobel prize for their contributions to experimental economics and their explorations of the influence fairness has on consumer decision-making. Which person did not receive a Nobel Prize for this work?
A) Vernon Smith B) Alan Krueger C) Daniel Kahneman D) Maurice Allais