(Consider This) Free products offered by firms:
A. may or may not be free to society but are never free to individuals.
B. may or may not be free to individuals but are never free to society.
C. are produced and distributed at no cost to society.
D. are usually items nobody wants.
Answer: B
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A 20 percent increase in the quantity of pizza demanded results from a 10 percent decline in its price. The price elasticity of demand for pizza is
A) 0.5. B) 2.0. C) 10.0. D) 20.0.
An increase in demand will cause a shortage at the original market price
a. True b. False Indicate whether the statement is true or false
Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to rise. b. M2 money multiplier to rise. c. M2 money multiplier to fall. d. Monetary base to remain the same.
Approximately what percentage of the U.S. labor force works for U.S. governments at the federal, state, and local levels (as of 2011)?
A. 8. B. 13. C. 16. D. 22.