The demand for land is:
A. perfectly elastic.
B. perfectly inelastic.
C. upsloping.
D. downsloping.
Answer: D
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When the exchange rate between the U.S. dollar and the euro changes from 1.30 euros per dollar to 1.00 euro per dollar the dollar has ________ and U.S. goods have become ________ to people in Europe so that quantity of U.S. dollars demanded ________
A) depreciated; cheaper; decreases B) depreciated; cheaper; increases C) appreciated; more expensive; decreases D) depreciated; more expensive; decreases E) appreciated; cheaper; increases
The burden of a tax is mainly borne by the buyer if:
a. the supply of the good is perfectly price elastic. b. the supply of the good is relatively price elastic. c. the demand for the good is relatively price elastic. d. the demand for the good is relatively price inelastic. e. the demand for the good is perfectly price elastic.
Value maximization means
A) that managers make decision so as to increase the long-run market value of the financial claims on the firm. B) that a firm should make products that have the highest price. C) that managers make decision so as to increase the short-run market value of the financial claims on the firm. D) all of these choices.
According to economist Jean-Pierre Dube, a 10 percent increase in the price of a twelve-pack of Mountain Dew will lead to a ______ percent increase in the sales of twelve-packs of Pepsi.
a. 10 b. 7.7 c. –5 d. –8.2