The demand for agricultural products:
A. has a price elasticity coefficient of about 0.20 to 0.25.
B. is elastic with respect to income but inelastic with respect to price.
C. has been decreasing about 8 percent per year.
D. has been rising more rapidly than the national income.
Answer: A
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"To each exactly the same" refers to
A. the ceteris paribus assumption. B. the egalitarian principle. C. the productivity standard. D. the free market doctrine.
Ben owns stock in two similar, large, financially sound corporations. Company A consistently earns rates of return of 12 percent per year, while company B regularly generates rates of return of 8 percent per year. If Ben is attempting to arbitrage, he
will: A. sell his stock in company B and buy more stock in company A. B. sell his stock in company A and buy more stock in company B. C. keep his portfolio balanced with an equal or nearly equal number of shares of each stock. D. buy stock in other companies in an effort to diversify and minimize risk.
Income lost by the unemployed is an example of the ________ cost of unemployment, while the additional spending to control crime is an example of the ________ cost of unemployment.
A. economic; psychological B. social; psychological C. economic; social D. psychological; economic
Much of a person's increased productivity can be linked to
A) on-the-job training. B) the prevalent marginal tax rate. C) the price elasticity of demand for the product. D) the income elasticity of demand for the product.