Demand pull inflation occurs in the ______________ range of the aggregate supply curve.
Fill in the blank(s) with the appropriate word(s).
intermediate
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If the percentage change in the price of a good exceeds the percentage change in the quantity supplied, then the supply is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.
The level of an economic activity should be increased to the point where
a. Marginal benefits equal to zero b. Marginal costs of the investment are less than marginal benefits of the investment c. Marginal benefits are greater than marginal costs d. Marginal costs are equal to marginal benefits
The Preview discusses the choice of going to college or not. Use the internet to examine educational attainment by race, Hispanic origin, and gender. The table of contents and data found in the Statistical Abstract of the United States. Click on the tables for Education Attainment. Use the data in this table to create a graph
Plot the percentage of each group that had 4 years or more of college on the vertical axis. Plot the year on the horizontal axis. Questions
- Which group has the highest percentage with 4 or more years of college?
- What could explain the difference between males and females?
- Which two races have the greatest differentials between males and females in educational attainment?
Product improvements make it difficult for the statisticians who construct the CPI to distinguish between ________ changes and ________ changes.
A. quantity; quality B. quantity; price C. price; quality D. income; price