A vertical demand curve is
A) completely inelastic.
B) infinitely elastic.
C) highly (but not infinitely) elastic.
D) highly (but not completely) inelastic.
A
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There are very few, if any, farms within the city limits of Chicago because
A) zoning laws have always prohibited them. B) the land under the city of Chicago is unfertile. C) Chicago is known for its butchers and freighters, not its farmers. D) the land is in extremely great demand for non-agricultural purposes.
Mr. Pierpont has wealth of $200,000. He wants to keep at least $80,000 in bonds at all times, and will shift $10,000 into bonds from his checking account for each percentage point that the interest rate on bonds exceeds the interest rate on his
checking account. If the interest rate on checking accounts is 4% and the interest rate on bonds is 9%, how much does Mr. Pierpont keep in his checking account? A) $50,000 B) $70,000 C) $130,000 D) $150,000
Toni deposited $250 into an account and one year later she had $272.50 in the account. What interest rate was paid on Toni's deposit?
a. 8 percent b. 9 percent c. 10 percent d. None of the above is correct.
Preferred Budgets ($ in millions)45678910Number of voters (in thousands)516253022193Table 15.3Table 15.3 shows the preferred budget for a new performance center and the number of voters in a community who prefer that budget. Suppose that Dawn initially proposed $5 million while Terry proposed $9 million. Given the distribution of voters' preferences, Dawn can increase her chance of being elected by proposing:
A. a greater budget toward the median budget. B. a greater budget than $9 million. C. a smaller budget than $5 million. D. None of these