Suppose that the following headlines appeared in a newspaper. Which would most clearly represent a macroeconomic issue?
a. "Central Bank Raises Interest Rates"
b. "Auto Dealership to Cut Prices"
c. "Fanny's Freeze Dried Prunes to Lay Off 50 Workers"
d. "United Workers Union to Strike April 15"
e. "Brazilian Coffee Bean Crop Falls by 10 Percent"
A
Economics
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Luxury goods have income elasticity:
A) of less than zero. B) between zero and one. C) equal to one. D) greater than one.
Economics
Sue offers to pay Al $50 for each painting of his that she sells in her gallery. Each painting sells for $75. The cost to Al of producing each painting is $55. Which of the following statements is TRUE about this contract?
A) This contract is efficient. B) This contract maximizes joint profit. C) Al will not participate in this contract. D) This is a fixed-fee contract.
Economics