Each year, the president must submit a budget proposal to Congress by:
a. January.
b. April.
c. July.
d. October.
a
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If the price elasticity of demand for a good is less than one in absolute terms, we say consumers of this good
A) are not very sensitive to price. B) are not very sensitive to the quantity they demand. C) are very sensitive to price. D) are elastic.
Which of the following is an essential feature of any economic system?
a. absolute advantage b. the profit motive for producers c. a voting procedure for choosing leaders d. prices determine resource allocation e. scarce resources
The most prevalent type of damage associated with hazardous waste sites is
a. water and soil contamination b. loss of livestock c. fish kills d. air pollution
Which of these countries' growth rates of real GDP per person have exceeded the United States' growth rate of real GDP per person over the last century?
a. Canada and China b. China and India c. Germany and India d. Germany and Pakistan