Economics

Z is a normal good. The equilibrium price and equilibrium quantity of

Z is a normal good. The equilibrium price and equilibrium quantity of Z in the year 2011 was $25 and 60 units, respectively. In 2014, the equilibrium price of Z had decreased to $15 and the equilibrium quantity had also decreased to 50 units. Other things remaining the same, which of the following could explain […]

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Date: September 2nd, 2020

Economists have determined that there are four factors that seem to st

Economists have determined that there are four factors that seem to strongly affect a nation’s rate of economic development. Which is NOT one of these four factors? A) supporting current industries and the jobs they provide instead of adopting new technology that brings disruptive social changes B) developing an educated population C) establishing a system […]

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Date: September 2nd, 2020

Three candidates for political office disagree over the benefits of en

Three candidates for political office disagree over the benefits of enlarging the federal budget deficit. Candidate C says the stimulation package is needed to increase employment and real GDP; Candidate D says it will only cause higher prices; and Candidate F says it will have no effect on either real GDP or the price level. […]

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Date: September 2nd, 2020

When the credit demand curve is relatively flat: A) the quantity of c

When the credit demand curve is relatively flat: A) the quantity of credit demanded is relatively sensitive to changes in the real interest rates. B) the quantity of credit demanded is relatively sensitive to changes in the taxation rates. C) the quantity of credit demanded is not responsive to changes in the taxation rates. D) […]

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Date: September 2nd, 2020