When the demand curve is linear, price elasticity of demand:
a. remains constant along the curve.
b. is negative in the lower half of the curve.
c. decreases as one moves down along the curve.
d. is less than one in the upper half of the demand curve.
c
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In a market-based economy, the government
A) allocates production. B) enforces property rights. C) encourages insurance risk. D) decides how much to produce.
In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future Consequently, in the current market for peanut butter there was ________ which resulted in a ________ in the price of peanut butter and ________ in the quantity of peanut butter.
A) a decrease in supply of peanut butter and an increase in demand for peanut butter; rise; an increase, decrease or possibly no change B) a decrease in supply of peanut butter and a decrease in demand for peanut butter; rise, fall, or possibly no change; a decrease C) an increase in supply of peanut butter and a decrease in demand for peanut butter; fall; an increase, decrease or possibly no change D) a decrease in supply of peanut butter and an increase in demand for peanut butter; fall; an increase, decrease or possibly no change
In the market for Canadian dollars measured in US dollars, the demand for US dollars is
a. The supply of Canadian dollars b. The demand for Canadian Dollars c. The supply of US dollars d. None of the above
Ways to "game" the budgeting process include
a. delaying sales if just short of a target b. delaying expenses if just short of a target c. accelerating sales once a target is met d. delaying expenses costs once a target is met