Which would be a positive economic statement?
a. Government should provide free housing shelter for the homeless
b. Stock prices rose to a new record last month for the fourth month in a row
c. The minimum wage should be increased to give people a decent wage
d. Americans should buy American products to boost the national economy
b. Stock prices rose to a new record last month for the fourth month in a row
You might also like to view...
Suppose the market for oranges is perfectly competitive and unregulated. Suppose also that the chemicals used to keep the oranges insect-free damage the environment by an estimated $1 per bushel of oranges. Suppose QD = 1000 - 100P and QS = -100 + 100P. The market equilibrium quantity is
a. 400 b. 450 c. 500 d. 550
The price elasticity of supply measures how much
a. the quantity supplied responds to changes in input prices. b. the quantity supplied responds to changes in the price of the good. c. the price of the good responds to changes in supply. d. sellers respond to changes in technology.
Refer to the graph shown that depicts a third-party payer market for prescription drugs. What happens to total expenditures in this market if a $2 co-pay is established compared to a free-market equilibrium?
A. Expenditures fall by $120 B. Expenditures rise to $270 C. Expenditures remain at $120 D. Expenditures rise to $240
Which of the following is corrrect?
A) Governments can not achieve the level of output they want. B) Changing government spending or taxes is easy. C) Investment will remain constant. D) Expectations do not matter for government to change spending or taxes.