Purchasing a smart phone data plan, premium movie channels, and University of Alabama football season tickets results in you having to drop your health insurance plan. This can be described as:
A. home field advantage
B. healthy living
C. irrational decision making
D. a trade-off
Answer: D
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The consumption of fixed capital in each year's production is called ________.
A. net investment B. depreciation C. indirect business taxes D. inventory reduction
The price elasticity of demand measures which of the following?
A) the slope of the demand curve B) the rate at which demand changes when price changes C) how responsive the quantity demanded is to changes in price D) the percentage-slope of the demand curve E) None of these correctly defines what price elasticity of demand measures.
A tax on cigarettes can be expected to reduce teen smoking more than it reduces adult smoking.
Answer the following statement true (T) or false (F)
Prices for fresh fruit, vegetables and other food products are examples of:
A. custom prices. B. auction prices. C. sticky prices. D. temporary prices.