The first two columns give the maximum daily amounts of beer and whiskey that Southern Ireland and Northern Ireland can produce when they completely specialize in one or another product. The last two columns give each country's consumption without trade. Maximum beer production Maximum whiskey production Beer consumption without trade Beer consumption without trade Northern Ireland 500 kegs 1500 bottles 300 kegs 600 bottles Southern Ireland 1200 kegs 800 bottles 600 kegs 400 bottles In which product does Northern Ireland have a comparative advantage in producing

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

In june 2009, at the trough of the great recession, the bureau of labor statistics announced that of all adult americans, 140,196,000 were employed, 14,729,000 were unemployed and 80,729,000 were not in the labor force. use this information to calculate: a. the adult population b. the labor force c. the labor-force participation rate d. the unemployment rate