Which of the following will have no impact on the demand for ice cream in the short run?
a. A change in population size
b. A change in the price of ice cream
c. A change in seasons
d. A change in consumer preferences
e. A change in consumer incomes
b
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Which of the following is NOT normative economic statement?
A) The minimum wage should be eliminated so unemployment can be reduced. B) Increases in the minimum wage cause increases in unemployment. C) The inflation rate should fall to increase individuals' well being. D) Taxes on cigarettes should be increased to reduce smoking.
Americans who benefit from immigration include
a. firms that hire immigrants. b. workers whose skills are complementary with immigrants' skills. c. consumers who purchase goods produced using immigrants labor. d. property owners who own land in immigrant neighborhoods. e. All of the above.
If the effluent limitations are insufficient for a body of water
a. that body of water is considered “water quality limited” b. more stringent controls are required c. that water body becomes subject to total maximum daily loads (TMDLs) d. all of the above e. (a) and (b) only
If a certain household earns and spends $24,000 per year and, on the average, holds a money balance of $6,000, then the velocity of money for this household is:
A. 6. B. 1/6. C. 4. D. 1/4.