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1. Other things remaining unchanged, advertisement would likely make demand for a good more price elastic.
True
False
2. The cross price elasticity demand for a good with respect to the price of a complementary good is negative.
3. When the marginal product of labor is smaller than its average product, marginal cost will be smaller than average variable cost.
4. With capital measured along the vertical axis and labor along the horizontal axis the slope of an isoquant is equal to the ratio between the price of capital over the price of labor.
Pete borrows $10,000 to purchase a used car, He must repay the loan in 48 equal end –of-period monthly payments. Interest is calculated at 1.25% per month.
Suppose that Seth's income increases from $400 to $500 per week, causing Seth to increase his purchases of movies from 3 to 4. The income elasticity of movies is:
Lets assume that we admitted more students this semester (1200) than last (1100) and because of it there is a shortage of “B” parking spaces. Students also complain about the parking permit price ($100).
Suppose that the Canadian economy, on a fixed exchange rate, has a real growth rate of 2% and is in equilibrium with an inflation rate of 10% and risk premium of 1%. Suppose that changes in the US cause its real rate of interest to increase from 3% t..
Differentiate between Anticommunsim and McCarthyism , the perpective from which the media in 1947 to 1954 covered anticommunism and McCarthysim, american forgein policy desion impact anticommunism
Which of the following statements are true about transfer payments with regard to computing GDP? Check all that apply
“The money supply of an economy increases when the central bank simultaneously decreases the reserve requirement and sells government bonds in open market.” Explain whether this statement is true, false or uncertain. Explain what is the inflation tax..
Consider your decision about how many hours to work. a. Draw your budget constraint assuming that you pay no taxes (and receive no subsidies) on your income. On the same diagram, draw another budget constraint assuming that you receive a 20 percent s..
Suppose you were manager of restaurant and you were told honestly that a couple eating dinner has just seen a mouse, what would you say to them, how would you recover from this service crisis.
What is held constant when a demand curve for a specific product (shoes,apples) is constructed?
The recent drop in the price of gasoline and oil has had several effects on the US economy. What pricing model we have considered best represents the market for oil? Defend your answer. Use your model to explain how a moratorium on fracking in the US..
Chelsey is a mother of two and buys her kids\' favorite, Kraft Macaroni and Cheese, when the price of Kraft is the same as the price of the store brand stuff. But when there is any price difference, she buys the cheaper product. Cap City Metro decide..
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