A study which observes whether a particular occurrence influences some outcome is referred to as a(n):
A. event study.
B. exponential study.
C. laboratory study.
D. comparative study.
Answer: A
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Why do sellers pay all of a tax when supply is perfectly inelastic?
A) because a perfectly inelastic supply means that the demand is elastic B) because the government requires firms to collect the tax C) because a perfectly inelastic supply means that the quantity supplied is quite sensitive to a change in price D) because a perfectly inelastic supply means that suppliers will produce the same amount regardless of the price E) because in this case the price of the good that suppliers receive and keep does not change
The economic way of thinking claims there are substitutes for
A) any good. B) most goods except non-renewable resources. C) most goods except clean air and clean water. D) most goods except wetlands and tropical rain forests.
According to purchasing-power parity what should the nominal exchange rate between the U.S. and another country be equal to?
a. 1 b. the real exchange rate between the U.S. and that country c. the price level in the U.S. divided by the price level in the other country d. the price level in the other country divided by the price level in the U.S.
Which of the following is most important for young people wanting to increase their wealth and improve their living standard over time?
What will be an ideal response?