Who among the following is speculating?
A) The economics department that offers its first online principles course
B) The bookstore that buys back the Math 101 textbooks without confirmation that the department definitely plans to adopt it again next semester
C) The resident hall advisor who purchases party favors for the end-of-semester bash
D) All of the above.
E) B and C above.
D
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Industria and Agraria are two neighboring countries. Suppose Good X is the only good produced in both the countries and is a function of physical capital and efficiency units of labor
It is found that a one unit increase in capital leads to a higher increase in the production of Good X in Agraria than in Industria. What is the reason behind this if the number of efficiency units of labor in both the countries are equal?
The above figure shows a graph of the market for pizzas in a large town. At a price of $10, there will be
A) no pizzas supplied. B) equilibrium. C) excess supply. D) excess demand.