The responsiveness of the quantity demanded of one good to a change in the price of a different good is measured by the:
A. cross-price elasticity of demand.
B. income elasticity of demand.
C. price elasticity of supply.
D. price elasticity of demand.
Answer: A
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If the growth rate of the labor force is 2 percent and the growth rate of productivity is 1.5 percent, the growth rate of total output is
A. 3.5 percent. B. 1.33 percent. C. 0.75 percent. D. 0.5 percent.
The supply of bonds curve slopes upwards because
A) at higher prices, bonds pay higher interest which makes them more attractive to suppliers. B) lower prices raises the cost of borrowing which makes them less attractive to suppliers. C) at lower prices, bonds pay higher interest which makes them more attractive to suppliers. D) higher prices raise the cost of borrowing which makes them less attractive to suppliers.
Refer to the above diagram of the market for corn. If the price in this market is at $2 per bushel, then there will be a:
Surplus and the price will tend to rise Surplus and the price will tend to fall Shortage and the price will tend to rise Shortage and the price will tend to fall
If the length of time workers are eligible to receive unemployment insurance payments doubles?, then the unemployment rate will
What will be an ideal response?