Suppose iceberg lettuce has an income elasticity of demand of 0.35. A 10 percent increase in income causes the quantity demanded of iceberg lettuce to _______________ by ______________ percent
A) rise; 3.5
B) rise; 28.57
C) fall; 28.57
D) fall; 3.5
A
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A company could produce 99 units of a good for $316 or produce 100 units of the same good for $320. The marginal cost of the 100th unit
A) is $3.20. B) is $4.00. C) is $320. D) cannot be calculated with this information.
Suppose a bank has total assets of $4,000,000,000 and total deposits and other liabilities of $3,500,000,000. The bank's leverage ratio is
A) 11.2%. B) 12.5%. C) 14.3%. D) 87.5%.
Which of the following is a component of the Patient Protection and Affordable Care Act?
a. Charging a fine to individuals who do not have or want health insurance b. Requiring employers to buy health insurance from state-run exchanges c. Requiring employers with 30 or more employees to offer health insurance d. Charging a fine to doctors who do not participate in health insurance exchanges
U.S. Trade Adjustment Assistance:
a. is not available to workers in manufacturing. b. is not available to workers displaced by NAFTA. c. is not available to workers in service industries. d. expired with the advent of the WTO in 1995.