Elastic demand displays considerable:
A. income stretch.
B. cross-price stretch.
C. price stretch.
D. quantity stretch.
Answer: D
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What is a commodity money system?
What will be an ideal response?
If marginal revenue exceeds marginal cost, to increase its profit the firm will
A) decrease its output. B) increase its output. C) keep its output the same. D) shut down.
In North Carolina, a car must pass an emissions test before it can be registered. The emissions test costs $20 per car. This system is an example of
A. direct controls on pollution. B. a per-unit emissions tax. C. a “license to pollute.” D. subsidies for nonpollution.
If Microsoft stock has a constant net return each year, then the value of a share of Microsoft stock is determined by
a. subtracting Microsoft's total costs from its total revenue. b. multiplying the annual net income by the number of shares. c. dividing the annual net income from the asset by the interest rate. d. both a and b above.