If an economy experiences growth in productivity without growth in its labor force, it will grow.
Answer the following statement true (T) or false (F)
True
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A weak U.S. dollar leads to a higher volume of U.S. imports
Indicate whether the statement is true or false
When the price of a soft drink from the campus vending machine was? $0.60 per? can, 100 cans were sold each day. After the price increased to? $0.75 per? can, sales dropped to 85 cans per day. Over this? range, the absolute price elasticity of demand for soft drinks was approximately equal to
A) 0.15.
B) 0.60.
C) 0.73.
D) 1.67.
The figure below illustrates a tariff. On the graph, Q represents quantity and P represents price.
Figure 17-11
Refer to Figure 17-11. The deadweight loss created by the tariff is represented by the area
a.
B.
b.
D + F.
c.
D + E + F.
d.
B + D + E + F.
Coffee has just been found to increase your expected life span by 5 years if you consume it every day. In the market for coffee, this information will lead to
A. an increase in price and a decrease in quantity. B. an increase in price and an increase in quantity. C. a decrease in price and a decrease in quantity. D. a decrease in price and an increase in quantity.