Which one of the following is the best example of an oligopolistic industry?
A. wheat growers
B. apple growers
C. public utilities
D. soft drinks
Answer: D
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Which of the following will shift the demand curve for milk?
A. Change in the income of buyers of milk B. Change in the price of milk C. Change in input prices for milk D. All of these responses are correct.
While in school, Kiki spends 20 hours a week as a computer programmer for Microsoft and studies 30 hours a week
A) Kiki is classified as a full-time worker, working 50 hours a week. B) Kiki is classified as a part-time worker, working 30 hours a week. C) Kiki is classified as a part-time worker, working 20 hours a week. D) Because Kiki is a student, she is not classified as working. E) Because Kiki is a student, she is classified as a full-time worker, working 20 hours a week at a paid job.
If the government decreases taxes, which of the following would occur?
a. An increase in GDP, an increase in the price level, an increase in money demand, and an increase in the interest rate b. An increase in GDP, a decrease in the price level, an increase in money demand, and a decrease in the interest rate c. A decrease in GDP, a decrease in the price level, a decrease in money demand, and a decrease in the interest rate d. A decrease in GDP, a decrease in the price level, an increase in money demand, and an increase in the interest rate e. An increase in GDP, an increase in the price level, a decrease in money demand, and a decrease in the interest rate.
The GDP price index one year was 200, and the next year it was 215. What was the percentage change in the price level (inflation) from one year based on that index?
a. 7.5% b. 10% c. 15% d. 2%