The price elasticity of demand is negative because of
A. the midpoint formula.
B. scarcity.
C. the law of demand.
D. percent-changes being used in the formula.
Answer: C
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In the above figure, what amount of subsidy per student would government have to provide to colleges if its desired objective was to achieve an efficient level of education, 50 million students per year?
A) $6,000 per year B) $12,000 per year C) $18,000 per year D) $27,000 per year
Refer to Table 9-12. Prior to trade, what was the opportunity cost to produce 1 belt in Estonia?
A) 1/3 of a sword B) 3/5 of a sword C) 1.67 swords D) 5 swords
Specialization and trade do not allow individuals, firms, or even nations to acquire goods that lie beyond their production capabilities
a. True b. False Indicate whether the statement is true or false
An unanticipated decline in the real interest rate in the loanable funds market will cause the
a. aggregate demand curve to shift to the right. b. aggregate demand curve to shift to the left. c. long-run aggregate supply curve to shift to the left. d. natural rate of unemployment to fall.