Cross elasticity measures the consumer's change in demand brought about by a change in income
Indicate whether the statement is true or false
F
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A decrease in government expenditure on goods and services
A) increases aggregate demand. B) increases the aggregate quantity demanded. C) decreases the aggregate quantity demanded. D) decreases aggregate demand.
Refer to Figure 2-11. What is the opportunity cost of producing 1 pound of cashews in Pakistan?
A) 3/8 of a bolt of cotton B) 5/8 of a bolt of cotton C) 1 3/5 bolts of cotton D) 240 bolts of cotton
The average hourly wage (excluding benefits) in the United States is currently
a. $7.50 b. $9.95 c. $15.00 d. $20.00
Dewey earned a salary of $75,000 in 2001 and $95,000 in 2006 . The consumer price index was 177 in 2001 and 266 in 2006 . Dewey's 2006 salary in 2001 dollars is
a. $47,768.36. b. $63,214.29. c. $84,550.00. d. $142,768.36.