Most Americans believe that families really could get by on the government's definition of minimum needs if they tried hard
Indicate whether the statement is true or false
F
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Indicate whether each of the following transactions represents the purchase of a final good
1. The purchase of tires from Bridgestone by an automobile manufacturer? 2. The purchase of two new elementary school buildings by the state government? 3. The purchase of french wine by a US consumer? 4. The purchase of a new machine tool by the Ford Motor company?
______________—a term referring to the highly inelastic case of demand or supply in which a percentage change in price, no matter how large, results in zero change in the quantity; vertical when graphed.
a. Infinite elasticity b. Zero inelasticity c. Constant unitary elasticity d. Perfect elasticity
The inevitable cost of protecting domestic industries from foreign competition will be higher prices for domestic consumers.
a. true b. false
Federal income tax law excludes gain realized on the sale of a primary residence for individuals filing separately and for couples filing jointly. The amount of this exclusion is (separately/jointly):
A) $100,000/$200,000 B) $125,000/$250,000 C) $250,000/$500,000 D) $300,000/$600,000