In the figure above, at which point (a, b, or c) along the linear demand curve illustrated would demand be
a) most elastic?
b) most inelastic?
a) The demand would be most elastic at point a.
b) The demand would be most inelastic at point c.
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Which of the following factors will NOT increase economic development?
A) establishing a system of property rights B) increasing the amount of protectionism C) increasing the amount of education in the population D) creative destruction where old jobs, companies and industries are destroyed
Which of the following would most likely cause the demand for veggi burgers to increase?
a. A decline in the price of veggie burger. b. An increase in the price of tofu burgers, perceived as a substitute by veggie burger consumers. c. An increase in the price of burger buns. d. A technological innovation that lowers the cost of producing veggie burgers.
In which case is the political process most likely to result in the acceptance of efficient projects and rejection of inefficient projects?
a. The benefits are highly concentrated, and costs are widespread among voters. b. The costs are highly concentrated, and the benefits are widespread among voters. c. Both the benefits and costs are widespread among voters. d. The benefits accrue primarily in the future, while the costs are more visible during the current period.
Which of the following groups are negatively affected by foreign direct investment flows?
A. The host country's workers B. The suppliers of inputs to the affiliates of foreign multinationals C. The home country's workers D. The host country's government