An industry in which sales tend to magnify cyclical changes in gross domestic product and national income is called:
A. a cyclical industry.
B.a counter-cyclical industry.
C. a dismal industry.
D. a fluctuating industry
A. a cyclical industry.
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Explain the following statement: "People hate taxes primarily because of income effects while economists hate taxes primarily because of substitution effects."
What will be an ideal response?
Although digital storage costs have declined sharply in the past few years, many universities and companies still have limited storage space for email messages and impose a fixed limit on the amount of file storage space per user
May we view this as a common property resource problem, and do the fixed limits resolve the problem? A) Yes, the storage space used by one person is not available to another person, and the storage limit is a type of quota that allocates the property rights to the storage space. B) Yes, the storage space used by one person is not available to another person, and the storage limit represents a form of single-person ownership that resolves the common property resource problem. C) No, one person's use of the storage space does not have an impact on other people, so this is not a common property resource problem. D) This is an example of a common property resource problem, but the fixed limits on storage space do not resolve the problem.
Which of the following is an example of discrimination in the labor market?
a. Women earn less than men because women are more likely to be employed in occupations that pay less, such as elementary school teachers rather than electrical engineers. b. Women earn less than men because women have, on average, fewer years of experience in the labor force because women, on average, periodically leave the labor force to raise children. c. A pharmaceutical sales company pays women less than men because the company's customers, physicians and pharmacists, say that they prefer to deal with men rather than women. d. All of the above are examples of discrimination.
Which of the following statements is true?
A. Keynesians believe that consumers are inherently unstable in consumption decisions, but that businesses are relatively stable in making investment decisions. B. Monetarists believe in discretionary monetary policy. C. Lowering tax rates is the main priority of Supply Side economists. D. Rational expectationists argue that businesses have a poor record of anticipating government fiscal policy.