If a 20 percent increase in the price of a used car results in a 10 percent decrease in the quantity of used cars demanded, then the demand for used cars is
A) elastic.
B) inelastic.
C) unit elastic.
D) arc elastic.
B
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The federal government and insurance companies are examples of third party
A) payers for health care. B) users of health care. C) providers of health care. D) observers of health care.
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One issue with using lifetime earnings as a proxy for human life is that it treats upper-income jobs and hence individuals in those jobs as more valuable than lower-income individuals.
Answer the following statement true (T) or false (F)
In a partnership, debts accumulated by one partner
A) are the responsibility of that partner only. B) are the responsibility of the other partners as well. C) are the responsibility of all the employees of the partnership, regardless of whether those employees are partners. D) are the responsibility of the other partners only up to the amount each partner initially invested in the partnership.