In Figure 4.1, the demand curve that has a zero elasticity is show in graph:
A. A.
B. B.
C. C.
D. D.
Answer: A
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Sources of stress include all but which of the following:
a. Hurricanes, tornadoes, floods and other such natural events b. Angry family members and friends c. Clutter, mental and physical d. All of the above are potential sources of stress
When a group of people stand to gain from an action that is not rational for any of the members to undertake individually, it is referred to as a:
A. free-rider problem. B. collective-action problem. C. moral hazard problem. D. societal-wellbeing problem.
________ policy focuses on the nation's money supply, while ________ policy aims at changing the underlying structures or institutions of the economy.
A. Monetary; fiscal B. Fiscal; structural C. Monetary; structural D. Fiscal; monetary
When a competitive market achieves allocative efficiency, it implies that:
A. The marginal benefit of having the product is greater than the marginal cost B. The buyers are getting the maximum consumer surplus from the product C. The combined consumer and producer surplus is maximized D. The quantity demanded is lower than the quantity supplied