On a given linear demand curve, as price increases demand becomes:
A. more negative.
B. more variable.
C. more elastic.
D. less elastic.
Answer: C
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A tax that takes the same percentage of tax from all taxpayers is called a:
A. proportional tax. B. progressive tax. C. regressive tax. D. lump-sum tax.
The U.S. economy is relatively closed in terms of economic activity related to exports and imports
a. True b. False Indicate whether the statement is true or false
PlayStations and PlayStation games are complementary goods. A technological advance in the production of PlayStations will
a. increase consumer surplus in the market for PlayStations and decrease producer surplus in the market for PlayStation games. b. increase consumer surplus in the market for PlayStations and increase producer surplus in the market for PlayStation games. c. decrease consumer surplus in the market for PlayStations and increase producer surplus in the market for PlayStation games. d. decrease consumer surplus in the market for PlayStations and decrease producer surplus in the market for PlayStation games.
A policy in which ________ actively pick(s) industries to support as a base for economic development is known as industrial policy.
A. microfinanciers B. the International Monetary Fund C. the World Bank D. a government