Economics Answers

An employer has narrowed a list of applicants down to two individuals. The two candidates look nearly identical on paper, but one of them has earned a four-year college degree. The employer decides to offer employment to the college graduate. What does this example illustrate?

Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity?

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Which one of the following is correct regarding contractionary fiscal policy in the Keynesian model? It will…

• A. decrease the equilibrium level of income.
• B. increase government spending and aggregate spending.
• C. decrease investment and government spending.
• D. decrease inventories.

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