How many households in the United States receive their incomes mainly from the business sector?
A. 300 million
B. 117 million
C. 50 million
D. 39 million
B. 117 million
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If the government charged a tax on monopolists equal to, say, 75 percent of their economic profits, what would happen to the level of output the firm would produce? What about the price? Explain
Suppose that in a month the price of a liter of soda increases from $1 to $1.50. At the same time, the quantity of liters of soda supplied increases from 200 to 210. The price elasticity of supply for liters of soda (calculated using the initial value formula) is:
A. 0.1. B. 0.5. C. 10. D. 20.
Which of the following is a negative effect of economic growth?
A. higher inflation B. environmental pollution C. higher unemployment D. all of these
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is BD. If the price of CDs decreases, her new budget constraint becomes
A. EF. B. AO. C. AD. D. CD.