Tag: Economics – Others

Question 421 ptsSuppose we observe that as a firm increases its price its total revenue decreases. Which of the following is a possible value of its price elasticity of demand?0.250.5118

The GDP deflator but not the CPI takes into account.
The prices of imports that consumers buy
Investment goods bought by businesses
Goods bought by the government
Both b. and c.

The market inverse demand function for a good is P=6-2Q. Each consumer buys 1 unit, with the wealthiest consumers buying first. How much should the second wealthiest person be charged?

The inclusion of wage escalator clauses in collective bargaining agreementshas rapidly risen in recent years.has been opposed by management.is automatic.is prohibited in some industries.

A conclusion from the Diamond-Dybvig model is:
the need of a lender of last resort.
the need of bank deposit insurance.
that banks are inherently stable.
that banks must be publicly owned.

True or false: In a developed country, globalization generally puts downward pressure on the wages of low-skilled workers.
True
False

Suicidal actions by young people become much more common after the age of:
10 than at any earlier age.
13 than at any earlier age.
18 than at any earlier age.
11 than at any earlier age.

Balanced trade implies that the current account balance is zero; thus, the outflow of freancial investment is ◻ the inflow of foreign linestment.

Question 32 tries left
Which of the following approaches to the economy do Republicans generally support?
the Federal Reserve System
Keynesian economics
laissez-faire economics
protectionism

There are blank space possible real-world cases worth analyzing regarding changes in either demand or supply and how those changes impact equilibrium price and quantity.