If the price elasticity of demand for a good is greater than one, then the demand for that good is:
A. unit elastic.
B. perfectly elastic.
C. inelastic.
D. elastic.
Answer: D
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Credit card balances are not considered to be money primarily because they
A. are not part of people's wealth. B. are an asset used in making transactions. C. are rarely used to make purchases. D. do not represent an obligation to pay someone else.
What is the difference between the functional and the personal distribution of income?
What will be an ideal response?
A good definition of the meaning of development is the
a. elimination of absolute poverty. b. improvement in the quality of life. c. fulfillment of the potential of individuals. d. all of the above.
Investors considering switching capital assets may also consider the potential tax liability and decide not to switch. This is known as bracket creep.
A. True B. False C. Uncertain