Related to the Economics in Practice on page 302: A pair of shoes at a local department store has a marked retail price of $80. These shoes are on a sale table where all items are priced at 25 percent off the retail price. The store is also having a promotion of an additional 25 percent off all sale-priced shoes. Based on these stackable discounts, what is the actual selling price of these shoes?
A. $25
B. $40
C. $45
D. $60
Answer: C
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The structural deficit is the deficit
A) during an expansion. B) that would occur at full employment. C) caused by the business cycle. D) during a recession. E) that does not increase the national debt.
A rightward shift in labor demand decreases the number of workers hired
a. True b. False Indicate whether the statement is true or false
In the mythical nation of Oz, gasoline used to sell for $1 a gallon, and the natives purchased 100,000 gallons a week. Four years ago, the price rose to $3 a gallon, and the natives reduced their quantity demanded to 90,000 gallons a week. Calculate the
price elasticity for this change. Today, gas again sells for $1 a gallon in Oz, but the natives are only buying 70,000 gallons a week. What gives?
Monetarists argued that the Fed wasn't serious about adhering to a money-growth target because
A. it gave too much weight to movements in exchange rates. B. it was unable to reduce inflation at all. C. the sacrifice ratio remained too high. D. it tried to target three different monetary aggregates simultaneously.