The price elasticity of demand would most likely be the lowest for
A) a McDonald's hamburger.
B) salt.
C) a Toyota sport utility vehicle.
D) Shell gasoline.
B
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A country with an undervalued currency
A. will have a balance of payments deficit. B. will accumulate reserves of foreign currencies. C. will suffer losses of foreign reserves. D. must intervene in the foreign-exchange market to buy its own currency.
Assume Alan's budget constraint is demonstrated by line A in the graph shown. Which of the following could cause Alan's budget constraint to change to line B?
A. The price of books could have decreased.
B. The price of books could have increased.
C. The price of movie tickets could have increased.
D. The price of movie tickets could have decreased.
A "bad" would be associated with:
A. zero marginal utility. B. a very small amount of marginal utility. D. positive marginal utility.
Political candidates tend to identify themselves as being "middle-of-the-roaders", while they tend to label their opponents as a member of the political fringe
Indicate whether the statement is true or false