A monopolistic competitor:
a. faces a perfectly elastic demand curve.
b. faces an elastic demand curve
c. faces a unit elastic demand curve.
d. faces an inelastic demand curve.
b
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________ are the largest components of state and local government revenue
A) Individual income taxes and corporate income taxes B) Transfers from federal government and sales taxes C) Individual income taxes and sales taxes D) Transfers from federal government and corporate income taxes E) Corporate income taxes and lottery income
A major component of the “cradle-to-grave” management system is
a. identification of hazardous waste b. a permit system for treatment, storage, and disposal facilities (TSDFs) c. a national manifest system for tracking through the waste stream d. all of the above e. (a) and (c) only
In the market for labor:
A. there is never disequilibrium. B. firms create the supply. C. the price in the market is the interest rate. D. individuals are the sellers of the good.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.