Which statement is true?
A. There is no one single cause of homelessness.
B. Most of the homeless have jobs.
C. There are fewer Americans homeless than ten years ago.
D. People are homeless because they want to be.
A. There is no one single cause of homelessness.
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A tax on a product will yield little revenue if
a. supply is elastic b. supply is inelastic c. demand is inelastic d. demand is elastic e. no tax in a developing country will yield significant revenue
The principle of comparative advantage does not provide answers to certain questions. One of those questions is
a. Do specialization and trade benefit more than one party to a trade? b. Is it absolute advantage or comparative advantage that really matters? c. How are the gains from trade shared among the parties to a trade? d. Is it possible for specialization and trade to increase total output of traded goods?
The common feature of the Great Depression and the Global Economic Crisis is
A) that they were preceded by an asset price bubble. B) the active role of the Government before the crises. C) the active role of the FED before the crises. D) the immediate and the aggressive response by both government and the FED.
Which of the following algebraic forms for a demand curve yields an isoelastic demand curve?
A) Q = a - b log(P) + c log(I) B) Q = a - bP + cI C) log(Q) = a - b log(P) + c log(I) D) log(Q) = bP + cI