Which elasticity measures producers' responsiveness to a change in price?
A. Price elasticity of demand
B. Cross-price elasticity
C. Price elasticity of supply
D. Income elasticity of supply
C. Price elasticity of supply
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The unemployment rate is the:
A. percentage of the labor force that is out of work. B. percentage of the population that is out of work. C. number of workers unemployed. D. number of workers in the labor force.
Wanda takes $3,000 from her savings account that pays 5 percent interest per year and uses the funds to purchase a computer for $3,000 for her business. At the end of the year the computer is worth $2,000
Wanda pays an implicit rental rate of ________ a year. A) $1,150 B) $4,000 C) $3,150 D) zero
According to Ricardian Equivalence, crowding-out ________
A) is incomplete B) will raise the level of domestic income C) is complete D) does not play a role in influencing private investment levels
In most markets, each consumer
a. faces the same money price and time price b. faces different money prices and different time prices c. faces the same money price but different time prices d. faces different money prices but the same time price e. has the same individual demand curve for the product