What are the characteristics of those who migrate to urban areas? What positive and negative effects does their leaving have on those who remain?
What will be an ideal response?
Younger, better educated, and probably less risk averse, given their willingness to migrate. These factors suggest they could be more entrepreneurial than average had they not migrated, which would benefit the rural area and help alleviate the urbanization problem.
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A temporary decrease in the price of oil will shift the short run aggregate supply curve right but not shift the long run aggregate supply curve
a. True b. False Indicate whether the statement is true or false
The Federal Reserve is
a. part of the executive branch of the government b. not part of any branch of the government c. part of the judicial branch of the government d. part of both the legislative and the judicial branch of the government e. part of both the executive and the legislative branch of the government
Which of the following is likely to increase the elasticity of demand for a good?
A. A decrease in the price. B. A decrease in the availability of close substitutes. C. A longer period of time. D. A smaller share of income designated for the good in question.
Which of the following statements is TRUE of external costs?
A) External costs should not be corrected since people will bear the costs whether they are corrected or not. B) There are no good ways to correct for the external costs. C) When external costs exist, the price of the good will be deceptively low leading to an overallocation of resources. D) External costs should only be corrected for if the correction will not increase the market price.