In the first few years of the Great Depression, unemployment rose to about
a. 10 percent, and prices rose about 14 percent.
b. 15 percent, and prices rose about 22 percent.
c. 20 percent, and prices fell about 14 percent.
d. 25 percent, and prices fell about 22 percent.
d
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When you arrive at Olive Garden with your date, you have to wait 25 minutes for a table. Olive Garden is allocating tables using which method?
A) market price B) first-come, first-served C) command D) personal characteristics E) sharing equally
The purpose of convention is
A) to create a Nash game. B) to determine one equilibrium out of a multi-equilibrium situation. C) to offer multiple choices to players. D) all of these choices.
A candle manufacturer produces 4,000 units when the market price is $11 per unit and produces 6,000 units when the market price is $13 per unit. Using the midpoint method, for this range of prices, the price elasticity of supply is about
a. 6. b. 2.4. c. 0.4. d. 0.67.
What role does population growth play in economic development?
What will be an ideal response?