A weakness in the Club of Rome's study entitled The Limits to Growth is that
A. it assumed a constant demand for products.
B. it did not account for technological change.
C. it assumed the rate of population growth would slow.
D. it assumed a declining investment rate.
Answer: B
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The figure above shows the market for tires. According to the figure, the price elasticity of demand is ________ the price elasticity of supply
A) greater than B) equal to C) less than D) not comparable to E) More information is needed to determine if the price elasticity of demand is greater than, equal to, less than, or comparable to the price elasticity of supply.
The primary source of revenue for the federal government of the United States are taxes tied to ________
A) property values B) rents and dividends C) export and import flows D) income
Which of the following initiates changes in the Fed's discount rate?
a. Board of Governors b. Federal Reserve Banks c. Federal Open Market Committee d. Department of Commerce e. Treasury Department
If the benefits from trade are larger than the costs of trade, _____
a. a tariff should be imposed on the traded good b. trade should be allowed c. the domestic price of the traded good should be regulated d. the domestic consumption of the traded good should be taxed