All centrally planned economies
A) have been political dictatorships. B) started out as market economies.
C) have become mixed economies. D) began as mixed economies.
A
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Economists have found that the price elasticity of demand for water is higher in the summer than in the winter. Why is this likely to be so?
A. Winter water use tends to be for necessities such as cleaning and cooking, and summer water use tends to be for both necessities and non-necessities such as gardening and recreation. B. Winter is longer than summer, and price elasticity is lower over longer time horizons. C. Summer is longer than winter, and price elasticity is higher over longer time horizons. D. People take more vacations in the summer and so use less water at home.
Refer to Table 9-12. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Estonia gain compared to the "without trade" numbers?
A) 25 B) 75 C) 100 D) 125
Fiscal and monetary policy can reduce unemployment with no negative side effects
a. True b. False Indicate whether the statement is true or false
The saving rate equals saving divided by:
A. income. B. assets. C. wealth. D. liabilities.