If the price of a good increases from $20 to $25 and the quantity demanded declines from 15 to 10 units of the good, the price elasticity of demand is 5
a. True
b. False
B
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In 1930, the U.S. government attempted to help domestic firms that were harmed by the Great Depression by passing the Smoot-Hawley Tariff. In response to this tariff, other countries ________ and international trade ________
A) lowered their tariffs; thrived B) raised their tariffs; collapsed C) doubled their tariffs; became unrestricted D) eliminated tariffs; began to grow outside of the United States
Determine whether each of the following outputs is considered an intermediate good, a final good, or neither for purposes of calculating GDP in the current year
a. New tires put on a new Corvette at Big O Tire store b. The net sales price of a home built in 1990 when it is resold in 1997 c. The commission earned by a stock broker on the sale of stock d. The net price that is paid for 1000 shares of stock in Dell
Job and pay disparity between men and women is explained fully by the job interruption that accompanies childbirth
Indicate whether the statement is true or false
The development of new technology typically
a. shifts the supply curve to the right b. reduces profits c. results in a downward movement along a supply curve d. increases costs of production e. shifts the demand curve to the right