The price of a bushel of corn next year is a ________ variable because the price ________ known with certainty.
A) known; is not
B) random; is
C) random; is not
D) known; is
C) random; is not
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Use the graph below to answer the next question.
Other things equal, an increase in labor productivity would cause a
A. move from a to b on D1. B. move from b to a on D1. C. shift from D2 to D3. D. shift from D3 to D2.
Suppose Mexico's real GDP per person in 2008 is $6,000 and the U.S. real GDP per person is $24,000. Mexico has annual growth in real GDP per person of 5 percent
Approximately how many years will it take Mexico to equal $24,000 of real GDP per person? A) 14 years B) 18 years C) 28 years D) 36 years E) 40 years
Explain why a monopsonist's marginal factor cost curve must lie above its labor supply curve
A price index can fall from one year to the next: a. even when nominal GDP falls
b. even when real GDP falls. c. even when some individual good's prices rise. d. in any of the above circumstances.