Producer groups tend to lobby for
A) price floors.
B) price ceilings.
C) quantity quotas.
D) taxes.
A
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A worker is unemployed if he:
A) has been working part-time and has been actively looking for full-time work. B) does not have a job and is not actively looking for a job. C) is working from home and drawing a weekly salary. D) does not have a job and has been actively looking for one in the prior four weeks and is available for work.
Explain the income effect and the substitution effects of a price change for a normal good
What will be an ideal response?
When does the fiscal year begin for the U.S. federal government?
a. January 1 b. April 1 c. July 1 d. October 1
Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each unit of E. Base-year prices are $1 for each good. Real GDP in the current year equals _________ and GDP equals _________
A) $550; $150 B) $130; $530 C) $150; $550 D) $530; $130 E) none of the above