The Elkins Act of 1903:
a. outlawed any departure from a published shipping rate.
b. made the receiver of a rebate guilty of violating the law.
c. probably reflected the wishes of a large majority of railroad companies.
d. All of the above.
d. All of the above.
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According to Keynes, the aggregate supply curve is
a. vertical in both the long run and the short run. b. vertical only in the long run. c. vertical only in the short run. d. never vertical.
Demand for a good is said to be inelastic if the quantity demanded increases substantially when the price falls by a small amount
a. True b. False Indicate whether the statement is true or false
Which of the following numbers, if it were equal to the 80/20 ratio for a particular country, would indicate the most inequality?
A. 1 B. 2 C. 0 D. 0.5
A nation's real GDP was $250 billion in 2013 and $265 billion in 2014. Its population was 120 million in 2013 and 125 million in 2014. What is its real GDP growth rate in 2014?
A. 15.0% B. 6.0% C. 5.7% D. 1.1%