Those who think that a popular investment is necessarily a good investment often find themselves earning low returns.
Answer the following statement true (T) or false (F)
True
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The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500Using the regular percentage change formula, what is the price elasticity of supply when price decreases from $10 to $5?
A. perfectly elastic B. unit elastic C. elastic D. inelastic
How does a quota affect the consumer surplus and the producer surplus from the imported good? Is the overall economy helped or harmed by quotas? Briefly explain your answers
What will be an ideal response?
Assume a simplified banking system in which all banks are subject to a uniform reserve requirement of 20 percent and checkable deposits are the only form of money. A bank that received a new checkable deposit of $10,000 would be able to extend new loans up to a maximum of:
a. $2,000. b. $8,000. c. $10,000. d. $9,000.
Which of the following is not a criterion for an ideal voting system, according to economist Kenneth Arrow?
A. No dictator B. Transitivity C. Unanimity D. Fairness