What does "T" represent in the SWOT matrix?
a. threats
b. tariffs
c. taxes
d. talents
Answer: a. threats
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Policy-oriented economists seek to develop theories to
A. explain how things work, so policies can be formulated. B. describe what happened in a particular time period in history. C. describe current economic events. D. find correlations between events. E. change people’s values and ethics.
An increase in the amount of a product offered for sale at every price is called an increase in supply
Indicate whether the statement is true or false
If demand for Farmer John's maple syrup is inelastic, then when Farmer John raises the price of maple syrup, his total revenue will
A) increase. B) decrease. C) stay the same. D) probably change, but more information is needed to determine if the total revenue increases, decreases, or stays the same.
In an open economy, the government deficit is 600 and saving exceeds investment by 500, so in equilibrium the trade deficit (IM ? X) must be
a. 100. b. 200. c. 300. d. 700.