Whenever the elasticity value for a demand curve is greater than zero, then the demand is labeled as “elastic.”
Answer the following statement true (T) or false (F)
False
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Which of the following is not among the factors that lead to economic growth?
a. Increases in employment b. Increases in the capital stock c. Improvements in technology d. Government transfer programs e. Political stability and an efficient legal system
If interest rates in Canada rise above those in the rest of the world, then
a. the demand for Canadian dollars decreases b. exports from Canada to other countries increases c. imports into Canada from other countries decreases d. it raises Canada's exchange rate and this may result in a deficit on Canada's current account e. the balance of payments becomes negative
Which of the following is an example of depreciation?
a. falling stock prices b. the retirement of several employees c. computers becoming obsolete d. All of the above are examples of depreciation.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom is on budget constraint AC and the price of a hamburger is $8.00. Tom's monthly income is
A. $2.50. B. $20. C. $80. D. $160.