If the demand for a good is price elastic, then the price elasticity will be
a. equal to one
b. equal to zero
c. greater than one
d. less than one
e. less than zero
C
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In 2012, part-time workers for noneconomic reasons were about ________ of total employment, and part-time workers for economic reasons were about ________ of total employment
A) 3 percent; 25 percent B) 17 percent; 17 percent C) 2 percent; 12 percent D) 13 percent; 20 percent E) 13 percent; 6 percent
The marginal rate of substitution is equal to the
A) slope of the demand curve. B) marginal cost of each good. C) magnitude of the slope of the indifference curve. D) relative prices of the two goods.
Which of the following are risks for multinational corporations but not risks for domestic corporations?
A) changes in government rules and regulations B) capital controls C) changes in tax laws D) government red tape and corruption
To protect the competitive economic system by restricting the formation of monopolies, the government has passed and enforced
A. the imposition of taxes on certain goods. B. zoning laws. C. rationing systems. D. antitrust laws.