Which of the following goods will have the most elastic demand at any time?
A. Coffee
B. Gasoline
C. Restaurant meals
D. Insulin
Answer: C
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Which statement is false?
A. Between 1789 and 1812 the United States' population doubled. B. Between 1812 and 1835 the United States' population doubled. C. Between 1835 and 1858 the United States' population doubled. D. None of the statements are false.
________ increases with education, training, and job experience
i. Physical capital ii. Human capital iii. Financial capital A) i only B) ii only C) iii only D) both ii and iii E) i, ii, and iii
At the beginning of the year, AAA-1 Towing owns trucks and buildings for a total value of $1 million. During the year, it invests $250,000 to replace towing trucks worth $230,000 destroyed in a flood and to cover $50,000 worth of depreciation
AAA-1 Towing's net investment was A) $20,000. B) $250,000. C) -$30,000. D) $200,000. E) $280,000.
The minimum wage is set above the equilibrium wage rate. Does the minimum wage create inefficiency?
A) Yes B) No C) Only if the supply of labor is perfectly inelastic D) Only if the supply of labor is perfectly elastic E) Only if employment exceeds the efficient amount