An economist might be hired to answer which of the following questions?
a. What will the price of oil be next year?
b. Why is the median income of women about half the median income of men?
c. How much will interest rates change as the federal deficit decreases?
d. How much will inflation change if import restrictions are imposed?
e. All of the above are correct.
e
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The cyclical unemployment rate changes with business cycle fluctuations
Indicate whether the statement is true or false
As of 2010, the Gini coefficient was 33.9 in India and 40.8 in the United States. We can interpret this to mean that inequality:
A. is greater in India than the United States. B. is greater in the United States than in India. C. is about the same in the two countries. D. is not a problem in either country.
Which of the following would DECREASE the demand for tennis balls?
A. A decrease in average household income when tennis balls are a normal good B. An increase in the cost of producing tennis balls C. A decrease in the price of tennis rackets D. An increase in the price of tennis balls
In the above figure, the firm experiences constant returns to scale between output levels of
A. zero and Q1. B. Q2 and Q3. C. Q3 and Q4. D. any level greater than Q4.