Emocrats often argue in favor of what to push the economy toward economic recovery, as they did during the recession that began in 2008?
A. Tax cuts
B. Increase government spending
C. Decrease government spending
D. Encourage the public to save more
B. Increase government spending
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Anna owns the Sweet Alps Chocolate store. She charges $10 per pound for her hand made chocolate. You, the economist, have calculated the elasticity of demand for chocolate in her town to be 2.5
If she wants to increase her total revenue, what advice will you give her?
Suppose the exchange rate between the U.S. dollar and the Jamaican dollar was $1 U.S. = $40 Jamaican dollars. A beach towel sells for $20 in Miami and $60 Jamaican in Negril
A) Purchasing power parity does not prevail with these prices. B) The U.S. dollar would be expected to depreciate. C) The Jamaican dollar would be expected to appreciate. D) All of the above are correct.
Opening trade between a nation that has "cheap labor" and one that has "expensive labor" will
a. lower the standard of living in both countries. b. raise the standard of living in both countries. c. make some workers less efficient. d. lead to an inappropriate allocation of resources.
An increased demand for lawyers' services to prosecute damage suits
What will be an ideal response?