The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is
What will be an ideal response?
lower than the equilibrium price.
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Please describe in detail a self-fulfilling currency crisis
What will be an ideal response?
If the players in the figure shown act in their own self-interest, then we know that Adidas will earn:
A. $2 million.
B. $8 million.
C. $6 million.
D. $10 million.
Which of the following factors would indicate a less elastic demand?
A. The good represents a large fraction of the budget. B. Demand is measured over a longer period of time. C. There are few substitutes. D. The price of the good is high.
Given the production function Y = A if output grows by five percent, the capital input grows by five percent, and the labor input grows by two percent, calculate the Solow residual
Calculate the growth rates of output per worker and capital per worker.