The income elasticity of demand
A. must lie between -1 and +1.
B. is positive only.
C. can be positive, negative, or zero.
D. is negative only.
Answer: C
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Social Security payments are examples of
A) transfer payments. B) nondurable goods. C) durable goods. D) services.
On which of the following government spending projects would the crowding out effect most likely be the greatest?
A) government spending on farm subsidies B) government spending on improvements in infrastructure C) government spending on research and development D) government spending on education
To state that the resources of the economy are finite implies that
a. we cannot live without them b. we always want more of them c. they are nonrenewable d. at least some of them are renewable e. there is a fixed quantity of them at any point in time
Which of the four countries has an opt-out and chose not the adopt euro yet:
a. Germany b. Denmark c. France d. Austria