If the income elasticity of demand for a good is zero, then
a. the goods inferior.
b. the good is normal.
c. the good violates the Law of Demand.
d. consumption of the good does not change as income changes.
d. consumption of the good does not change as income changes.
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The figure above shows the demand curve, marginal revenue curve, and marginal cost curve. The deadweight loss when the market has a monopoly producer is
A) ace. B) abf. C) bcd. D) bcef. E) acd.
Suppose we have an economy in which G = 1100, t = 0.26, Y = 3800, and YN = 4000. At Y the cyclical deficit is
A) 60. B) 112. C) -172. D) -52. E) 52.
What percentage of the U.S. public debt is held by federal agencies and the Federal Reserve?
A. 71 percent. B. 50 percent. C. 40 percent. D. 29 percent.
The traditional view regarding population and growth in DVCs is that:
A. The most important factor affecting population growth in DVCs is per capita consumption of energy B. Unemployment and underemployment are the major sources of population growth in DVCs C. Reduced birthrates must come first in DVCs, and then higher per capita incomes will follow D. Higher per capita incomes must come first in DVCs, and then reduced birth rates will follow