The value of zero is used to distinguish between elastic and inelastic price elasticity of demand for a product; so, if the elasticity is greater than zero, it is elastic and if it is less than zero, then it is inelastic.
Answer the following statement true (T) or false (F)
False
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Refer to the above table. Which country had the highest growth rate of real Gross Domestic Product (GDP) from 2014 to 2015?
A) A B) B C) C D) D
In the United States since 1960, the price of health care services has increased but the price of health insurance has decreased
Indicate whether the statement is true or false
You would be more willing to buy AT&T bonds (holding everything else constant) if
A) the brokerage commissions on bond sales become cheaper. B) interest rates are expected to rise. C) your wealth has decreased. D) you expect diamonds to appreciate in value.
Edgar Browning and William Johnson, in a paper published in the Journal of Political Economy (1984), presented evidence that a one-dollar transfer to the bottom 40 percent of income distribution costs the top 60 percent nine dollars. If correct, this finding proves
a. the tax system is generating significant excess burdens. b. these transfers are not worth the cost. c. loopholes have to be closed. d. the burden of the tax system is too great.