Imposing a new $10 downtown parking tax
a. would be a negative incentive that might have the positive result of reducing downtown congestion.
b. would be a positive incentive that might have the positive result of reducing downtown congestion.
c. would be a negative incentive that could only have negative results
d. None of the above is true.
a
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The price elasticity of demand is
A) always positive, so there is no reason to consider the absolute value of the price elasticity of demand. B) always negative, but by convention, economists typically express the price elasticity of demand as an absolute value. C) always equal to -1, which by convention economists typically express as an absolute value, or 1. D) always equal to zero, so there is no reason to consider the absolute value of the price elasticity of demand.
If in some range of production average cost is falling, the firm is experiencing
a. increasing returns to scale. b. decreasing returns to scale. c. constant returns to scale. d. increasing costs per unit of output.
Economic expansions in Europe and China would cause
a. the U.S. price level and real GDP to rise. b. the U.S. price level and real GDP to fall. c. the U.S. price level to rise and real GDP to fall. d. the U.S. price level to fall and real GDP to rise.
The ________ in the United States is set at three times the cost of the Department of Agriculture's minimum food budget.
A. official poverty line B. cost of living C. minimum wage D. Medicare threshold