Using the table above, what is the elasticity of demand between the prices of $6 and $4?
A) 1
B) 3/2
C) 2/3
D) 2
E) 4
A
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Disney World decides to charge local residents a lower price than other park visitors. This would fall under which field of economics?
A. Macroeconomics B. Public policy C. Customer service D. Microeconomics
Regional trading bloc agreements
a. are not considered trade restrictions b. are required by World Trade Organization rules c. exist primarily in Russia, Africa, and South America d. require all nations in a specified region to trade only with other countries in the same geographic area e. make special trade deals between countries in that region and discriminate against countries outside the region
When a tax is regressive, as a person's income rises, the tax rate:
a. stays the same. b. decreases. c. increases. d. increase and then decreases. e. decreases and then increases.
If Bolivia can produce 6 calculators or 3 televisions in a day, and Argentina can produce 4 calculators or 12 televisions in a day, then Bolivia would be willing to trade 1 calculator for 1 television with Argentina
a. True b. False Indicate whether the statement is true or false