How might a similar pie chart drawn up for the GDP deflator compare?
a. There would be more segments to the pie and the proportions would vary.
b. There would be the same number of segments, but the proportions would vary.
c. There would be fewer segments to the pie and the proportions would vary.
d. There would be the same number of segments and the proportions would remain the
same.
a. There would be more segments to the pie and the proportions would vary.
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A newspaper printing press is an example of
A) a capital good. B) a factor of production. C) something that influences labor productivity. D) a good that was once an output of the production process. E) All of the above are correct.
Suppose that Starbucks reduces the price of its premium coffee from $2.20 to $1.80 per cup, and as a result, the quantity sold per day increased from 350 to 450 . Over this price range, the price elasticity of demand for Starbucks coffee is:
a. 0.40. b. 0.80. c. 1.25. d. 2.50.
To pay piece rates in order to elicit effort, it must be the case that
A. the firm does not want to maximize profits. B. workers refuse to accept a time rate. C. firms cannot monitor individual worker effort. D. the firm can monitor individual worker output. E. the production process relies on group work.
If a country's currency appreciates, the country will experience a ________ in exports and a ________ in imports.
A. rise; rise B. fall; fall C. rise; fall D. fall; rise