For which of the following goods would demand be most price elastic: a car, a sedan, a Honda sedan, a Honda Accord, a black Honda Accord?
a black Honda Accord
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What is the most an individual would be willing to pay on January 1st for a bond that promises to pay $500 at the end of the year for the next three years if the market rate of interest is 5 percent? Explain
What will be an ideal response?
When price exceeds average variable cost for a firm, it is possible that: a. it is earning an economic profit. b. it is breaking even
c. it is suffering an economic loss. d. any of the above is true.
The proportion of the adult population that is employed is the:
A. Unemployment rate. B. Employment rate. C. GDP per capita. D. Productivity rate.
Economic regulation occurs when:
A. monopoly is the optimal market structure. B. the industry is highly competitive. C. the product is important to economic welfare. D. the government owns the assets of the industry.