In the basket of goods that is used to compute the consumer price index, which of the following categories of consumer spending is the largest?
a. education & communication
b. recreation
c. medical care
d. All of the above categories are about equal in magnitude.
d
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If Healthy Nuts contractually requires distributors who purchase Healthy Nuts' snack packs to also purchase Healthy Nuts' large -sized mixed nuts tins, this is an example of ________.
A) a requirements contract B) a tying arrangement C) territorial confinement D) exclusive de
On the graph showing the impact of patent protection on equilibrium price and quantity, when a patent on a drug expires, consumers gain a consumer surplus of approximately area ______.
a. a
b. b
c. bc
d. abc
Along with currency not in banks and deposits in checking accounts, what is another component of the M1 measure of money?
A. credit cards B. debit cards C. traveler's checks D. prepaid accounts
The price elasticity of demand for leisure air travel is -1.60. Therefore, a
A. 16 percent decrease in the price of leisure air travel will cause a 10 percent increase in the amount of leisure air travel. B. 10 percent decrease in the price of leisure air travel will cause a 16 percent increase in the amount of leisure air travel. C. a 16 percent decrease in the price of leisure air travel will cause a 10 percent decrease in the amount of leisure air travel. D. 10 percent decrease in the price of leisure air travel will cause a 16 percent decrease in the amount of leisure air travel.