If A is preferred to B and B is preferred to C, then we would expect A to be preferred to C. This property is called
transitivity.
Economics
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Suppose the price elasticity of demand for oil is 0.1. In order to lower the price of oil by 20 percent, the quantity of oil supplied must be increased by
A) 200 percent. B) 20 percent. C) 2 percent. D) 0.2 percent.
Economics
An increase in money supply causes the real interest rate to ________ and the price level to ________ in general equilibrium
A) rise; rise B) remain unchanged; fall C) remain unchanged; rise D) fall; fall
Economics
What are the major issues that must be considered in measuring inputs for regression analysis of production functions?
What will be an ideal response?
Economics
If the CPI was 170 in 1998 and was 187 in 1999, what was the inflation rate in 1999?
Economics