According to estimates, what percentage of agricultural workers in the United States are illegal immigrants?
A. 12.
B. 19.
C. 25.
D. 50.
Answer: C
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If consumers spend 90 cents out of every extra dollar received, the
A. Multiplier is 0.90. B. Multiplier is 9. C. MPS is 0.90. D. MPC is 0.90.
If the price elasticity of demand is equal to zero and the price was to rise, the quantity demanded would:
A. decrease slightly. B. fall to zero. C. not change. D. increase.
Compare and contrast the relative price elasticities of Marlboro brand cigarettes with cigarettes in general. Why is there a difference?
What will be an ideal response?
Refer to Figure 16-3. Which group of customers is likely to have a more elastic demand curve (more sensitive to price)?
A) the customers from "The Chateau"—market A B) There is no difference in the elasticity of demand between the two groups. C) There is insufficient information to answer this question. D) the other residents of the neighborhood—market B