Suppose the current price of barley is $7 per bushel and at that price 100,000 bushels are grown by a Colorado farmer
If the price of barley rises to $8 and quantity supplied increases to 130,000 bushels, then using the midpoint method, the price elasticity of supply for barley equals A) 13.33.
B) 26.78.
C) 1.96.
D) 0.51.
E) zero.
C
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Assume that a Chrysler automobile sells for $15,000 in the United States and that the exchange rate is $1 = €1.3 . For purchasing power parity to hold, the same car should sell in Germany for:
a. €15,000. b. €11,538. c. €19,500. d. €1,538. e. €15,500.
Economists believe that public debt
a. always promotes overconsumption b. promotes overconsumption if people view the government's liabilities as their own c. promotes overconsumption if people fail to view the government's liabilities as their own d. cannot promote overconsumption e. promotes underconsumption if people view the government's liabilities as their own
In the United States between 1980 and 2000, employment:
A. grew more rapidly than the over-sixteen population. B. decreased, while the over-sixteen population increased. C. grew at approximately the same rate as the over-sixteen population. D. was constant, while the over-sixteen population increased.
Answer the following question based on the graph showing the median voter. If Lucy, who is positioned at VM, took a poll during the election that showed voters were actually a bit more conservative than what is shown on the graph, she would have the best chance of winning by ______.
a. repositioning herself to V1
b. repositioning herself to V2
c. convincing voters her opponent is positioned at V2
d. convincing voters her opponent is positioned at V1