How would an economist characterize the decision to change brands when the price of one’s preferred brand increases?
a. disloyal
b. rare
c. rational
d. unnecessary
c. rational
Economics
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Economics
What problems arise in interpreting unemployment data?
Economics
An export trading company (ETC) works with many manufacturers rather than representing a single manufacturer.
a. true b. false
Economics
Refer to the information provided in Table 30.2 below to answer the question(s) that follow.
Table 30.2
Refer to Table 30.2. What is the real wage rate in 2015 using 2017 as the base year?
A. $4.21 B. $8.40 C. $11.40 D. $15.20
Economics