The figure below shows the supply and demand curves for oranges in Smallville.
At a price of $4 per pound there will be an excess ________ of ________ pounds of oranges per day.
A. supply; 10
B. supply; 20
C. demand; 30
D. demand; 20
Answer: D
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The Dow Jones Industrial Average has been computed regularly since
a. 1976. b. 1948. c. 1913. d. 1896.
The formula for cross elasticity of demand is percentage change in:
A. quantity demanded of X/percentage change in price of X. B. quantity demanded of X/percentage change in income. C. quantity demanded of X/percentage change in price of Y. D. price of X/percentage change in quantity demanded of Y.
How does a firm raise external funds through direct finance?
What will be an ideal response?
Q: How many economists does it take to screw in a light bulb? A: None. If the light bulb really needed changing, market forces would have already caused it to happen. This joke represents the view of
A) classical economists. B) Keynesian economists. C) economists who conclude that money illusion is widespread. D) economists who conclude that wages and prices are inflexible.