Policy makers usually wait for ________ months of data to confirm a change
A) two
B) three
C) four
D) six
A
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Which of the following increases the demand for a good or service?
A) a fall in the price of the good or service B) a smaller number of consumers wanting to buy the good or service C) a rise in the price of the good or service D) a rise in the price of a substitute good or service E) a rise in the price of a complement
You and your college roommate eat three packages of Ramen noodles each week. After graduation last month, both of you were hired at several times your college income. You still enjoy Ramen noodles very much and buy even more, but your roommate plans to buy fewer Ramen noodles in favor of foods she prefers more. When looking at income elasticity of demand for Ramen noodles, yours would
a. be negative, and your roommate's would be positive. b. be positive, and your roommate's would be negative. c. be zero, and your roommate's would approach infinity. d. approach infinity, and your roommate's would be zero.
In the figure above, Nike maximizes its profit if it sells ________ pairs of shoes per day
A) 120 B) 87 C) 137 D) 150
"No country is abundant in everything." Discuss
What will be an ideal response?