Tag: Economics – Others

Assume that a price ceiling of $200 has been implemented and that there are wasteful lines and search costs. What is the value of wasteful lines and search costs with a price ceiling of $200?

Between 1950 and 2016 jobs in the United states
A. decreased by 160 million jobs
B. increased by 57 million jobs
C. decreased by 60 million jobs
D. increased by about 150 million jobs

The European Union has:
Uniform customs duties on goods imported from outside of the EU
The Common Agricultural Policy
Uniform common transport, agricultural and competition policy
All of the above

Unplanned inventory reduction causes firms to _____.
Question 5 options:
lower prices on the products they sell
change their promotional strategies
reduce their demand for labor
produce more output

Which of the following forms of city government derives from the idea that policymaking and administration areseparate functions?
representative town meeting
commission
town meeting
council-manager

Which Act is a federal law passed in 1939 that restricts partisan activities by federal employees (bureaucrats), such as endorsing products?
Hatch Act
Pendleton Act
None of these
Civil Rights Act

People with more education haveage-earnings profiles than those with less education. Femaleshaveage-earnings profiles than males.flatter; steepersteeper; flattersteeper; steeperflatter; flatter

People with more education have age-earnings profiles than those with less education. Females have age-earnings profiles than males.
flatter; steeper
steeper; flatter
flatter; flatter
steeper; steeper

Question 1 (1 point)
Suppose the demand curve for a market has the points ( Q=2,P=40 ) and ( Q=4,P=30 ) on it. What is the equation of the demand curve?
Choose one:
P=50-2Q
P=100-5Q
P=50-5Q
P=100-2Q

Richie purchases 1 ribeye steak from a local steak house per month when the price is $23 and 3 steaks per month when the price is $19. What is the price elasticity of Richie’s demand curve?