Recall the Application about the price and supply of blueberries to answer the following question(s).According to the Application, the upward jump of the price of blueberries from 2005-2007 followed by the drop in the price of blueberries to $1.44/ lb. shows that blueberries are in a/an:
A. constant-cost industry.
B. an increasing-cost industry.
C. a decreasing-cost industry.
D. zero-cost industry.
Answer: A
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Suppose the federal government makes it mandatory for employers to provide health insurance to all employees. Assuming the new mandate applies to homebuilders, the
A) demand for construction workers is likely to increase. B) supply of new homes is likely to increase. C) supply of new homes is likely to decrease. D) supply of new homes will remain the same; businesses will simply "pass" the higher costs on to consumers.
In the model of the money supply process for M2, the relationship between checkable deposits and the M2 money supply is represented by
A) D = × M2. B) D = (1 + c + t + mm) × M2. C) M2 = × D. D) M2 = .
A VAR with five variables, 4 lags and constant terms for each equation will have a total of
A) 21 coefficients. B) 100 coefficients. C) 105 coefficients. D) 84 coefficients.
Which of the following events triggered intense debate over the classical model of the economy?
a. The U.S. Civil War b. World War I c. the Baby Boom d. The Great Depression e. World War II