Tag: Economics – Others

Assume that a price floor of $1000 has been implemented and that there are no wasteful quality improvements. What is total consumer surplus with a price floor of $1000?

The United States charges a tariff of 4.4$per kilogram for the first 2.1 millionkilograms of cotton and a tariff of 36$ perkilogram of cotton in excess of thatthreshold.

Question 7
If a product is a necessity and has no substitutes at all, demand for the product (having no substitutes makes items less elastic)
elastic
unitary elastic
inelastic

Suppose that cauliflower are a normal good and that consumer incomes are rising, which of the following would happen to the price and quantity of this good in equilibtium

What economic opportunity drew the most migrants to the West?
Group of answer choices
Gold mining
Access to land for agriculture
Railroad work
Military work as Indian fighters

When the business cycle contracts into an economic recession, the stock market usually ____________
Question 8 options:
Corrects (goes down)
Adds jobs
Expands
Is not impacted

Which of the following are flows?
Investment, budget deficit, incomeConsumption, workers hired, capitalInvestment, debt, incomeConsumption, unemployment, household deficit

Which of the following metrics measures a country’s economic output?
Purchasing power parity (PPP)
Gross domestic product (GDP)
Gross national happiness
Trade surplus/deficit

when you weigh the money, you will earn from working overtime against what you give up to work the extra hours, you are applying the (marginal or cost-benefit) principle

Question 14 (1 point)
Some blame the relatively low voter turnout for Texas elections on the frequency of elections and the large number of candidates.
Answer
True
False