Fiscal Policy
What will be an ideal response?
government spending and tax policy
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Refer to Figure 5-1. The market equilibrium price is
A) $60. B) $50. C) $40. D) < $40.
The economic argument for legalizing drugs
a. is morally bankrupt. b. is based on the assumption that demand is relatively price inelastic. c. shows that economists are all libertarians at heart. d. takes into consideration all the externalities associated with drug use. e. is really politically motivated.
Suppose the observed annual quantity of steel exchanged in the European market is 30 million metric tons, and the observed market price is 90 euros per ton. If the linear demand function for steel takes the form Q = a - 0.9P, what is an appropriate value for the intercept coefficient a?
a = -111 a = 51 a = -51 a = 111
What types of capital can improve the productivity of workers?
A. Human, technological, and physical capital are all determinants of productivity B. Human and physical C. Technological and human D. Physical and technological