New York City increased regulated taxi fares by 17.5 percent and expected taxi revenue to increase by the same amount. The taxi commission believed taxi demand was
a. unit elastic.
b. somewhat elastic.
c. perfectly elastic.
d. perfectly inelastic.
e. somewhat inelastic
D
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The government office in charge of collecting official employment statistics is the:
A. Bureau of Labor Statistics. B. Bureau of Economic Analysis. C. Bureau of Industry and Security. D. Bureau of the Census.
The accounting relationship between the budget deficit and the trade deficit may be expressed as ____
a. G + T = (S + I) + (X ? IM) b. G ? T = (S + I) + (X + IM) c. (X - IM) = (S - I) ? (G - T) d. (X - IM) = (S + I) ? (G - T)
Most Mexican workers can increase their wages if they migrate to the United States, a demand-pull factor for migration
Indicate whether the statement is true or false
Refer to the information provided in Table 13.4 below to answer the question(s) that follow. Table 13.4Price ($)Quantity20.00118.00216.00314.00412.00510.006 8.007Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $4 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $18; 2 B. $16; 3 C. $12; 5 D. $10; 6