Which of the following goods will have the most elastic demand at any time?
a. coffee
b. gasoline
c. restaurant meals
d. insulin
c
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If the demand curve for tacos is a downward sloping straight line, at which of the following prices is the demand the most elastic?
A) a price of $0.50 per taco B) a price of $1.00 per taco C) a price of $1.50 per taco D) There is not enough information given to determine at which price the demand is most elastic.
Which of the following describes actual trends in the U.S. labor force participation rate?
A) The labor force participation rate of adult men has risen since 1950. B) The labor force participation rate of adult women has risen since 1950. C) The labor force participation rate of adult men not in school, but too young to retire has risen since 1950. D) The labor force participation rate of adult women has fallen since 1950. E) The labor force participation rate of all adults has fallen since 1950.
Supply-side fiscal policies focus on improving the incentives to work, save, and invest
a. True b. False Indicate whether the statement is true or false
A consumer becomes loyal to a product when:
a. the good is available at a very low price. b. the product is as good as its substitutes. c. the product comes with a gift occasionally. d. he/she has had a positive experience with that good. e. discounts are offered periodically.