If the price of apples went up by 25 percent, which of the following values of the cross price elasticity for oranges would be most reasonable to anticipate?
A) 0.0
B) 1.2
C) -2.5
D) -1.0
B
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Which of the following statements is true of creative destruction?
A) Creative destruction is encouraged in economies with extractive institutions. B) Creative destruction is a phenomenon that was mostly prevalent before the year 1800. C) Creative destruction is generally bad for an economy. D) Creative destruction creates losses for some economic agents and benefits for others.
The account that shows international transactions involving currently produced goods and services is called the
A) trade balance. B) current account. C) balance of payments. D) capital account.
Only about a quarter of the population eligible for housing subsidies actually receives them.
A. True B. False C. Uncertain
Purchasing-power parity describes the forces that determine
a. prices in the short run. b. prices in the long run. c. exchange rates in the short run. d. exchange rates in the long run.