Which of the following would most likely have a price elasticity coefficient greater than 1?
A. Electricity.
B. Airline travel in the long run.
C. Gasoline in the short run.
D. Cigarettes.
Answer: B
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If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the labor force is
A) 1000. B) 1100. C) 1400. D) 1500.
Keynesian economists see the quantity theory of money as proof that money cannot influence how much we produce, but does influence the prices of the goods we produce
Indicate whether the statement is true or false
A large increase in Micromania's exports to other countries will cause, ceteris paribus, Micromania's currency to appreciate
Indicate whether the statement is true or false
Of the following items, which is least likely to be discussed by a teacher of macroeconomics?
a. the national employment b. the business cycles c. our unemployment policy d. national income accounting e. a firm's profit