The classical economists believed
A. wages and prices were inflexible downward.
B. if nothing was done, recessions would become depressions.
C. recessions needed quick countercyclical action by the government.
D. the economy was essentially self-regulating.
D. the economy was essentially self-regulating.
Economics
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Why do booms and recessions tend to be transmitted across national borders?
Economics
At a price of $1.20, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.40, the coffee shop would be willing to supply 150 cinnamon rolls per day. Using the midpoint method, the price elasticity of supply is about
a. 0.15 b. 0.375 c. 2.5 d. 2.60
Economics