Economists use the percentage change in quantity rather than the absolute change in quantity because:
A. the measured elasticity is the same regardless of the unit of measurement for quantity.
B. absolute changes are confusing to convert.
C. absolute changes often result in negative numbers.
D. percentage changes are easier to calculate than absolute changes.
Answer: A
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Refer to Figure 18.2. In autarky, the maximum amount of spears that Macadamia can produce is
A) 40. B) 100. C) 120. D) 160.
During World War II, the distribution of income shifted. Who did this shift favor?
(a) Labor (b) The idle and wealthy class (c) The government (d) Foreign-born individuals
According to Chinese law, to be a dominant firm, can be all of the following except which one?
A) one of two firms in the market that have a combined market share of more than 66.6 percent B) one of three firms in the market that have a combined market share of more than 75 percent C) an individual firm with a market share of 50 percent D) one of four firms in the market that have a combined market share of more than 80 percent
If the U.S. dollar depreciates against the yen below the targeted exchange rate, the U.S. Federal Reserve has to intervene in the foreign exchange market such that:
a. the U.S. demand for yen rises. b. the supply of U.S. dollars rises. c. U.S. exports to Japan fall. d. the U.S. dollar is devalued. e. the supply of U.S. dollars falls.