Conspicuous consumption is a more effective signal of ability for people who:
A. live in small towns instead of large cities.
B. live in large cities instead of small towns.
C. don't understand moral hazard.
D. already have well-established reputations.
Answer: B
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Suppose the price elasticity of demand for bouquets of flowers is 4.0. You are charging $8 per bouquet. If you want to increase the quantity of bouquets you sell by 20 percent, what price should you charge?
What will be an ideal response?
Monthly expenditures for a family of 4 in 2015 averaged $1,400. In 2016, the cost of the same purchases was $1,500. If 2015 is the base year, what was the CPI in 2016?
A) 110 B) 107 C) 100 D) 93
Exhibit 14-1 Aggregate supply curve
?
In Exhibit 14-1, there are plenty of idle resources and no upward pressure on prices in:
A. the segment labeled ab. B. the segment labeled bc. C. the segment labeled cd. D. both segment bc and segment cd.
The threat of a Greek exit from the euro system
A. left Greek banks bankrupt. B. led to the exit of Spain from the euro. C. increased the viability of the Greek exit. D. spurred economic activity in Greece.