Tag: Economics – Others

What factor contributed to the yens decline in recent years?
Increased domestic consumption
Large U.S.-Japan interest rate gap
BOJs rapid rate hikes
Japan’s declining exports

If the cross price elasticity of demand between two goods is negative, what is the relationship between the two goods?
Normal goods
Inferior goods
Substitutes
Complements

A change from Point A to Point B represents a(n):
Group of answer choices
decrease in quantity demanded.
decrease in demand.
increase in quantity demanded.
increase in demand.

The EMU introduced the euro as a new currency to replace the currencies of the member countries in the Eurozone, which has since grown to 27 members.
False
True

Briefly explain what Gini coefficient is, the trend for Gini coefficient over the past fewdecades, and list two factors that have caused the change for the United States
What the Gini coefficient is
The Gini coefficient is a summary measure of income (or wealth) inequality within a population, ranging from 0 (perfect equality) to 1 (maximum inequality). It indicates how evenly income is distributed: higher values mean greater inequality.
Trend over the past few decades
In many countries, including the United States, the Gini coefficient has risen over the past few decades, reflecting increasing income inequality since roughly the 1970s–1980s. The rise has been particularly pronounced for top incomes, while middle- and lower-income growth has been slower.
Two factors that have caused the change for the United States
Skill-biased technological change:
Advances in information technology and automation have increased demand for high-skilled workers, raising wages at the top relative to middle- and lower-skilled workers.
Changes in policies and institutions:
Factors such as tax and transfer policy shifts (less progressive taxation and less redistributive social spending), declining unionization, and weakened wage bargaining power have contributed to growing inequality.

Payoffs, alternatives, and expected monetary values are terms related to
decision trees
product life-cycle management
quality function deployment
make-or-buy decision

Real variables:
have not been adjusted for inflation.
have been adjusted for inflation.
are calculated using prices at the time of sale.
do not account for changes in prices.

The idea that​ “supply creates its own​ demand” is attributed to which of the following​ economists?
Part 2A.David RicardoB.J. B. SayC.Adam SmithD.John Maynard Keynes

Question An aggregate production function can be thought of as a(n) production function. Select the correct answer below:
accumulated
macroeconomic
microeconomic
per capita

The most common method of amending state constitutions is throughconstitutional revision commissions.constitutional conventions.popular initiatives.legislative proposals.