A recent study has revealed that the consumption of coffee is injurious to health. This led to a sharp decline in coffee consumption worldwide. If coffee production accounts for 40% of Richland's GDP, this will lead to a(n)________
A) rise in Richland's inflation rate B) increase in the real interest rate in Richland
C) rise in Richland's demand for labor D) fall in Richland's demand for labor
D
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The firm in the figure above has a total revenue equal to ________
A) $5.10 × 10 B) $8.00 × 10 C) ($5.10 - $8.00 ) × 10 D) ($8.00 - $5.10 ) × 10 E) None of the above answers is correct because more information is needed.
A weighted output maximization could serve as a reasonable pricing guideline
Indicate whether the statement is true or false
If you believe that government can effectively manage aggregate demand to achieve full employment without inflation, you are a member in good standing in the
a. classical school b. Keynesian school c. neo-Keynesian school d. rational expectations school e. supply-side school
The price of an airline ticket from Denver to Washington, D.C. costs $600. A bus ticket costs $150. Traveling by plane takes 6 hours compared with 51 hours by bus. Other things constant, an individual would gain by choosing air travel if, and only if, his time were valued at more than
What will be an ideal response?