The market demand for wheat is ________ and the demand for wheat produced by an individual farm is ________
A) perfectly elastic; perfectly inelastic
B) not perfectly elastic; perfectly elastic
C) not perfectly inelastic; inelastic
D) elastic; unit elastic
B
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Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from D1 to D2. The government's tax revenue is
A. $900. B. $2,100. C. $2,400. D. $600.
Economists use regression analysis to separate the effects of productivity-related characteristics from the effect of gender alone
Indicate whether the statement is true or false
Assume the United States has an absolute advantage in the production of everything compared to the African nation of Berundi. Can you think of any reason why both nations would still find it to their mutual advantage to trade with each other?
What will be an ideal response?
Suppose a Treasury bond will mature in 3 years. If the bond pays a coupon of $100 per year and will make a final par value payment of $3,000 at maturity, what is its price if the relevant market interest rate is 7%?
A) $2,448.89 B) $2,711.33 C) $3,247.57 D) $3,510.00