The cross-price elasticity of demand for peanut butter and jelly is likely:
A. a positive number.
B. a very high positive number.
C. a negative number.
D. less than one.
C. a negative number.
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What is measured on the vertical axis of the aggregate demand graph?
A) unemployment B) nominal income C) the price level D) real GDP per year
Jim is haggling with a car dealer, along with another customer, over the sale price of a used car. When he entered the store, the storekeeper was already haggling with the other customer. His bargaining position would improve if
a. The other customer leaves b. He receives an offer from a competing car dealer c. He can make it clear that he will leave if his offer isn't accepted d. All of the above
Which of the following is a normative statement?
A) An increase in consumer income will lead to increased sales of beef. B) A decrease in the rate of unemployment will lead to upward pressure on consumer prices. C) An increase in the income tax will cause a greater reduction in savings than an increase in the sales tax. D) An economy with high unemployment can be worse off than an economy with high inflation.
What is the mission of the World Bank?
What will be an ideal response?