In 1950 there were approximately 7 working age people for every elderly person; however, in 2050 there will be
a. only 2.5 working people for every elderly person.
b. only 5 working age people for every elderly person.
c. 10 working age people for every elderly person.
d. 14 working age people for every elderly person.
a
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A central bank pledges to reduce the inflation rate from 10% to 3%. People reduce their inflation expectations to 5%, but the central bank reduces inflation to 3%. What happens to the unemployment rate?
The Bulgarian currency, the lev, is pegged to the euro at a rate of 1.96 leva (leva is the plural of lev) to the euro. At the pegged exchange rate, how many euros would be exchanged for one lev?
A) 0.51 B) 1.00 C) 1.96 D) 3.84
Barriers to entry can be the result of
a. Positive network externalities b. High switching costs c. Economies of scale d. All of the above
According to the law of supply, other things equal, when the price of a good or service rises, the quantity supplied increases, but supply does not
a. True b. False Indicate whether the statement is true or false