Over the past four decades
A) the growth rate of real GDP per person in the United States has been increasing.
B) U.S. real GDP per person has fallen below that of the other rich industrial countries.
C) U.S. real GDP per person has increased.
D) Both answers A and C are correct.
C
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The outcome of first-degree price discrimination is:
A) Pareto efficient with equity. B) Pareto efficient with inequity. C) Pareto inefficient with inequity. D) Pareto inefficient but is equitable.
Can the Federal Reserve achieve both low inflation and low levels of unemployment? Explain
What will be an ideal response?
Assume that a hurricane in Brazil destroys half of the coffee crop. Considering that Brazil is a major coffee producing country, consumers expect the price of coffee to increase in the near future. How does this reflect on the demand for coffee?
a. There is a movement upward along the demand curve for coffee. b. The demand curve for coffee shifts inward. c. The demand curve for coffee shifts outward. d. There is a movement downward along the demand curve for coffee. e. The demand for coffee declines.
If one day it was discovered that lime juice caused cancer, which of the following would likely result?
A) The supply curve for lime juice would shift to the right. B) The supply curve for lime juice would shift to the left. C) The demand curve for lime juice would shift to the right. D) The demand curve for lime juice would shift to the left.