Which of the following is incorrect? During the Great Recession U.S:
a. Wealth fell.
b. Unemployment duration rose.
c. Stock market rose.
d. Inflation fell.
e. All of the above are correct.
.C
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Refer to Scenario 12.1 At the assumed annual inflation rate of 5 percent, approximately how much will the $6.00 pack of cigarettes cost in 10 years, when Jennifer reaches the age of 35?
A) $8 B) $10 C) $16 D) $23
If the quantity demanded of a good decreases by 10 percent when the price of the good increases by 5 percent, the elasticity of demand is -2.00
Indicate whether the statement is true or false
At the market equilibrium
a. quantity exceeds price b. excess demand equals excess supply (and both are zero) c. price and quantity are equal d. each seller produces at full capacity e. everyone who is represented along the demand curve buys the good
The M form organization says China's success is due to:
a. central planning b. state capitalism c. regional competition d. the Hukuo system e. none of the above