The Rule of 70 is used to
A) estimate how much of an economy's growth rate is due to increases in capital per hour of labor.
B) calculate the standard of living.
C) calculate the economy's growth rate.
D) estimate how long it will take the level of any variable to double.
D
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In which price range of the accompanying demand schedule is demand elastic (based on the midpoint formula)?PriceQuantity Demanded$42342618
A. $3-$2 B. $2-$1 C. below $1 D. $4-$3
As an investor, negative supply shocks are not attractive because ________
A) they tend to lead to lower productivity B) the real rental price of capital tends to decline driving rental incomes down C) with decreases in expected income, claims on those incomes also tend to fall leading to stock market downturns D) all of the above E) none of the above
If a company raises the price on a product with inelastic demand, the total revenue will
a. true b. false
Refer to Table 3.1 to answer the following questionTable 3.1 Individual Demand and Supply SchedulesQuantity Demanded byPriceAlejandroBenCarlMarket$8.00842________6.001244________4.002046________2.002246________Quantity Supplied byPriceAveryBrandonCassandra $8.006046________$6.004244________$4.002442________$2.00640________In Table 3.1, if the price is $4, the market will
A. Experience a surplus of 30 units. B. Experience a surplus of 56 units. C. Be in equilibrium. D. Experience a shortage of 22 units.