Use the above table to answer these questions: In which year was the misery index (a) the highest? (b) the lowest?
(a) 1980 (20.6); (b) 1985 (10.8)
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The "Four Tigers" of East Asia are the newly industrialized countries of Taiwan, South Korea, Hong Kong, and:
a. Japan. b. Singapore. c. the Philippines. d. Vietnam.
How do new classical economists differ from Keynesian economists in their assumptions about how government borrowing affects household consumption and borrowing patterns?
The difference between a price decrease and an increase in income is that
A. An increase in income does not affect the slope of the budget line, while a decrease in price does change the slope. B. A price decrease leaves real income unchanged, while an increase in income increases real income. C. A price decrease does not affect the consumption of other goods, while an increase in income does. D. A price decrease decreases real income, while an increase in income increases real income.
Identify the factors that affect elasticity of demand
What will be an ideal response?