The demand for gasoline will be most elastic
A. 1 day after the price change.
B. 1 week after the price change.
C. 1 month after the price change.
D. 1 year after the price change.
Answer: D
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Where did Robert Mugabe get the money he needed for bribes and payoffs?
A. He raised income taxes. B. He printed it. C. He raised estate taxes. D. He raised taxes on corporate profits.
Based on the relative size of factor payments, the most important resource in the U.S. economy is
A. capital. B. land. C. labor. D. natural resources.
After 2003, The Federal Reserve usually keeps the discount rate
A) above the target federal funds rate. B) equal to the target federal funds rate. C) below the target federal funds rate. D) equal to zero.
Assume, for Vietnam, that the domestic price of textiles without international trade is lower than the world price of textiles. This suggests that, in the production of textiles,
a. Vietnam has a comparative advantage over other countries and Vietnam will import textiles. b. Vietnam has a comparative advantage over other countries and Vietnam will export textiles. c. other countries have a comparative advantage over Vietnam and Vietnam will import textiles. d. other countries have a comparative advantage over Vietnam and Vietnam will export textiles.