Refer to the above table. Demand is least price elastic at a price of
A) $10.00.
B) $7.50.
C) $7.00.
D) $5.00.
D
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Refer to Table 4-11. The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units
What is the value of economic surplus in this market? A) $300 thousand B) $600 thousand C) $1,200 thousand D) $1,600 thousand
Which of the following statements supports the passive approach to close a recessionary gap?
a. It is likely that policies will be subject to time lags. b. Prolonged unemployment may cause the economy's potential real GDP to fall. c. Workers' skills may grow rusty during a prolonged recession d. It is likely that unemployed workers will drop out of the labor force. e. Firms may neglect their capital stock during a prolonged recession.
White women earn an average of 25% less than white men. A labor economist who wants to investigate whether the differences in earnings indicate labor-market discrimination against women should consider whether white men and women have similar (i) years of work experience. (ii) educational attainments. (iii) occupations. (iv) child care responsibilities
a. (i) and (ii) only b. (iii) and (iv) only c. (ii) only d. (i), (ii), (iii), and (iv)
The country with the largest trade deficit as a percentage of GDP in 2009 was
A. Japan. B. United States. C. France. D. Canada.