A price elasticity of zero corresponds to a demand curve that is:
A. horizontal.
B. vertical.
C. downward sloping with a slope always equal to 1.
D. either vertical or horizontal.
Answer: B
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As more women decide to work outside the home and therefore hire others to work around their home, GDP will increase by
A) only the value of the household work they are now hiring someone to perform. B) the value of the output produced by the newly working women minus the value of the household work they were previously performing. C) the value of the output produced by the newly working women plus the value of any household work they are now hiring someone to perform. D) only the value of the output produced by the newly working women. E) the value of the household work they were previously performing minus the value of the output produced by the newly working women.
Which of the following geographic regions is expected to experience the largest percentage increase in its population between 2003 and 2050?
(a) Asia and Oceania. (b) Latin America. (c) North America. (d) Africa.
When the marginal revenue resulting from a decrease in price is negative, demand for the product is:
A) elastic. B) unit elastic. C) inelastic. D) cannot be determined without more information.
Project C has an expected value of $500 and a standard deviation of 50. Project D has an expected value of $300 and a standard deviation of 10. Comment on the desirability of these projects
What will be an ideal response?