Which of the following is an example of an individual motivated by self-interest?
a. a student volunteering at a soup kitchen
b. an attorney providing free legal service to low income families
c. a man buying a new Camaro
d. all of the above
d
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The price elasticity of demand is usually equal to the slope of the demand curve
a. True b. False
In recent years, the Canadian province of British Columbia has increased its carbon tax. Which of the following statements is correct?
a. Despite the increase in the carbon tax, emissions of greenhouse gases in British Columbia have continued to increase at a rapid rate. b. Along with the increase in the carbon tax, British Columbia has decreased income-tax rates on individuals and corporations. c. Few, if any, economists favor carbon taxes such as the one that British Columbia has imposed. d. All of the above are correct.
The Great Society program was designed to lift people out of poverty during the
A. 1930s. B. 1940s. C. 1950s. D. 1960s.
If a nation's production possibilities curve shifts inward, we should expect its long-run aggregate supply curve to
A. have a rightward shift. B. have a leftward shift. C. have an upward movement along the curve. D. have a downward movement along the curve.