Which of the following is an example of a good with a highly elastic supply curve?
a. luxury goods
b. tropical vacations
c. pizza
d. sports vehicles
c. pizza
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After 1995 U.S. growth rate ________ and the European Rate ________
A) slowed down; speeded up B) speeded up; slowed down C) slowed down; slowed down D) speeded up, speeded up
Which is NOT a function of money?
Suppose Rebecca needs a dog sitter so that she can travel to her sister's wedding. Rebecca values dog sitting for the weekend at $200 . Susan is willing to dog sit for Rebecca so long as she receives at least $175 . Rebecca and Susan agree on a price of $185 . Suppose the government imposes a tax of $30 on dog sitting. The tax has made Rebecca and Susan worse off by a total of
a. $30. b. $25. c. $10. d. $5.
Look at the following data: The structural unemployment rate is 4 percent, the natural unemployment rate is 5 percent, and the cyclical unemployment rate is 3 percent. The frictional unemployment rate is ____________ percent and the actual unemployment rate is __________ percent
A) 2; 7 B) 2; 8 C) 1; 7 D) 1; 8