The market for economists in Greenland has recently experienced an increase in the number of economists employed and an increase in the wage paid to economists. What could have generated such a change?
A. The demand for economists remained unchanged while the supply of economists decreased.
B. The demand for economists recently decreased while the supply of economists remained unchanged.
C. The demand for economists recently decreased while the supply of economists recently increased.
D. The demand for economists remained unchanged while the supply of economists increased.
E. The demand for economists recently increased while the supply of economists remained unchanged.
Answer: E
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A tax wedge causes
A. consumer prices to equal producer prices. B. producer prices to rise above consumer prices. C. consumer prices to separate from producer prices. D. all prices to fall.
Inefficiency in an economy can be caused by
a. misallocating resources. b. underemploying resources. c. discrimination. d. All of the above are correct.
An increase in national saving reduces the interest rate and so reduces net capital outflow
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.