The housing cycle generally lasts 5 to 10 years and is also known as the Schumpeter cycle
Indicate whether the statement is true or false
F
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The average (mean) price of ten commodities is $330. If an eleventh commodity whose price is $600 is included in the calculation, the new average is:
A) $254.54. B) $354.54. C) $330.35. D) $450.25.
An increase in the level of government price supports for wheat will not make wheat farming more profitable because
A) by definition government actions cannot affect profits. B) it raises the cost of growing wheat as well as the revenue. C) profit is the consequence of certainty and government policies are inherently uncertain. D) the demand for wheat is inelastic. E) wheat farmers are price takers, not price searchers.
Pessimists among the classical economists were least able to foresee the continual advancement in
a. managerial techniques b. technology c. birth control methods d. geographic discovery e. all of the above
The direct cause of the hyperinflation that plagued Zimbabwe in the 2000s is ________
A) printing of too much money by the central bank B) government expenditures greatly above revenues C) outlawing of price increases on many commodities D) allowing the use of foreign currencies E) the issuance of a $100 billion bank note