Which of the following groups benefited from the Civil War (1861–1865)?
(a) Wage earners who suffered declining real earnings as wages lagged behind the inflation
(b) Those groups issuing bonds during the war
(c) Those farmers whose crops and farm animals were destroyed
(d) Slave owners who parted with their property without compensation
(b)
Economics
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The price elasticity of demand for new stereos is –2 . Suppose a stereo store wishes to increase its sales by 15 percent. What should the firm do?
What will be an ideal response?
Economics
The bargaining power of buyers increases if
A) the input in question is not a critical component of production. B) there are wide variations in the quality of inputs from supplier to supplier. C) there are many large buyers. D) the input in question has few substitutes.
Economics