During the 2008-2009 unemployment rose from about 4.4% to about
a. 6%
b. 8%
c. 10%
d. 12%
c
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Bancroft Pharmaceuticals has a patent on a new medication used to treat high blood pressure, so it is the monopoly seller of this new drug product
The marginal cost of producing one dose of the drug is $10, and the elasticity of demand for the product is -3. What is the profit maximizing monopoly price for this patented drug product? A) $10 B) $12.50 C) $15 D) $30
Acreage allotment programs were designed to:
A. reduce the supply of agricultural products. B. make the demand for farm products more price elastic. C. bolster the demand for agricultural commodities. D. accelerate the movement of human resources out of farming.
The aggregate supply curve indicates the:
a. relationship between prices and the aggregate quantity of goods and services purchased by consumers, investors, governments, and foreigners (net exports). b. relationship between prices and the natural rate of unemployment. c. relationship between the real wage rate and the quantity of labor supplied by households. d. quantity of goods and services producers will supply at different price levels.
Explain what kind of income tax structure wealthy people would most likely prefer. Do poor people share their preferences? Explain