The new European Economic Community, after it changed its name to the European Communities, tackled two issues related to:
A) enlargement (expansion) of the European Communities and economic integration between members.
B) immigration and terrorism.
C) secret Nazi cells and latent communism.
D) unemployment and inflation.
Ans: A) enlargement (expansion) of the European Communities and economic integration between members.
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Neither the demand nor the supply of gasoline is perfectly elastic or inelastic. When the government increases the federal tax on gasoline, the effect on buyers is that the price they pay
A) rises. B) falls. C) does not change. D) rises if the demand is inelastic and falls if the demand is elastic. E) rises if the supply is inelastic and falls if the supply is elastic.
Give an example of currency depreciation and appreciation
What will be an ideal response?
Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect the total revenues the restaurant earns to:
A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.
Other things the same, in the Solow model in the steady state, a higher rate of population growth ________ growth rate of output per worker
A) leads to a higher B) leads to a lower C) has no long-run effect on the D) has an ambiguous effect on the