Along a straight-line demand curve the
a. slope is constant.
b. ratio P/Q constantly changes.
c. elasticity grows much smaller toward the right-hand end.
d. All of the above are correct.
d
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The fee simple form of land ownership in the United States was of English origin
Indicate whether the statement is true or false
If Mike earns $80,000 this year and pays $16,000 in taxes and David earns $50,000 this year and pays $11,000 in taxes, this tax system would appear to be a. progressive
b. proportional. c. regressive. d. none of the above
Dave, a U.S. citizen buys a bicycle manufactured in China. Dave's purchase is
a. both a U.S. and Chinese export. b. both a U.S. and Chinese import. c. a U.S. import and a Chinese export. d. a U.S. export and a Chinese import.
If the supply curve and the demand curve both shift to the left, then the new equilibrium:
A. price will be lower, but the direction of the change in quantity is uncertain. B. quantity will be higher, but the direction of the price change is uncertain. C. quantity will be lower, but the direction of the price change is uncertain. D. price will be higher, but the direction of the change in quantity is uncertain.