The demand for women's clothing is, in general:
A. less elastic than the demand for clothing.
B. more elastic than the demand for clothing.
C. equally elastic to the demand for clothing.
D. neither more elastic, less elastic, nor equally elastic to the demand for clothing.
Answer: B
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Loud music from a neighbor's party is
A) a negative externality whether or not you like it. B) a positive externality whether or not you like it. C) a positive externality if you like the music, and a negative externality if you don't. D) a negative externality if you like the music, and a positive externality if you don't. E) not an externality.
In consumer equilibrium, the marginal utility of good A, B and C are 100, 300, and 400 respectively. If the price of good A was $35, then the prices of goods B and C, respectively, are:
a. $105 and $140. b. $140 and $105. c. $105 and $175. d. $140 and $175.
Mary looks over reports on four of her workers. Jack made 30 baskets in 5 hours. Rudy made 32 baskets in 8 hours. Sam made 40 baskets in 12 hours. Walter made 22 baskets in four hours. Who has the greatest productivity?
a. Jack b. Rudy c. Sam d. Walter
An income elasticity less than zero tells us that the good is:
A. an inelastic good. B. a Giffen good. C. an inferior good. D. a normal good.