What percentage of the world's population subsists on incomes of less than $3 a day?
A. 40 percent.
B. 60 percent.
C. 70 percent.
D. 50 percent.
Answer: A
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The figure above illustrates a linear demand curve. If the price rises from $6 to $8 demand is ________ and if the price falls from $8 to $6 demand is ________
A) elastic; elastic B) elastic; inelastic C) inelastic; elastic D) inelastic; inelastic
The primary tools the government uses for contractionary fiscal policy are
A. tax increases and government purchase reductions. B. tax reductions and government purchase increases. C. tax increases and government purchase increases. D. tax reductions and government purchase reductions.
For Industry A, its 1-firm, 2-firm, 4-firm and 8-firm concentration ratios are the same. Based on this, we can conclude that Industry A is
A. pure competition. B. oligopoly. C. monopolistic competition. D. pure monopoly.
A consumer satisfies the condition ________ when her indifference curve is just tangent to her budget constraint.
A. TUx = TUy B. TUx/Px = TUy/Py C. MUx/Px = MUy/Py D. MUx = MUy