If demand is elastic
A) then it changes very little in response to a price change.
B) then it changes significantly in response to a price change.
C) then demand is zero.
D) then demand is infinite.
B
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If your income is $40,000 and you pay taxes of $4,650, what is your average tax rate? Show your work
What will be an ideal response?
If labor productivities were exactly proportional to wage levels internationally, this would
A) not negate the logical basis for trade in the Ricardian model. B) render the Ricardian model theoretically correct but practically useless. C) negate the logical basis for trade in the Ricardian model. D) negate the applicability of the Ricardian model if the number of products were greater than the number of trading partners. E) demonstrate the validity of the Ricardian model.
Describe, in general terms, the strategy of monetary policy, explaining how monetary-policy tools are used to achieve the goals of monetary policy
What intermediate stages are important in going from tools to goals? What are the links between the different stages? How does the Federal Reserve use this strategy today?
The problem with adopting a fair-return pricing policy for a natural monopoly is that:
A. Economic profits will be positive B. Economic profits will be negative C. It is not productively efficient D. It is not allocatively efficient