If Vice President Smith is a better typist than his assistant, he is said to have a(n) ________ advantage in typing over his assistant
A) absolute
B) unusual
C) relative
D) overwhelming
A
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Use the figure below to answer the following question.
If the output level is Q1, then the sum of the consumer and producer surplus is
A. 0eQ1. B. 0abe. C. 0ac. D. bce.
The classical economists assumed that
A) wages and prices were inflexible, especially downward. B) government intervention in the economic system was necessary and helpful. C) monopoly was widespread in the economy. D) wages and prices were flexible.
If good weather conditions result in a larger than normal crop of peaches, then the
A) equilibrium price of peaches rises, and the equilibrium quantity of peaches increases. B) equilibrium price of peaches falls, and the equilibrium quantity of peaches increases. C) demand curve for peaches shifts leftward. D) increase in the supply of peaches induces a greater demand for peaches, so that the equilibrium price rises and the equilibrium quantity increases. E) equilibrium price of peaches falls, and the equilibrium quantity of peaches decreases.
Which of the following measures did President Bush adopt in 2001 to get the economy moving again?
a. A hike in the wages of workers b. A ten-year tax cut c. An increase in taxes on high-income households d. Liquidation of money supply e. A decrease in government spending