Economists speaking like policy advisers make
a. positive statements.
b. descriptive statements.
c. claims about how the world is.
d. claims about how the world should be.
d
Economics
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Suppose $1 = 10.5 pesos in New York and $1 = 9.6 pesos in Mexico City.If you had $10,000 using arbitrage, your profits would be:
a. $937.50. b. 937 pesos. c. 9,600 pesos. d. $790.
Economics
Andy views beer and pizza as complements to one another. If the price of pizza decreases, economists would expect: a. Andy's demand for pizza to increase
b. Andy's demand for pizza to decrease. c. Andy's quantity of pizza demanded to decrease. d. Andy's demand for beer to increase.
Economics