The curve in the above graph
A. is a perfectly elastic demand curve.
B. is a perfectly inelastic demand curve.
C. is a very elastic demand curve.
D. is a very inelastic demand curve.
A. is a perfectly elastic demand curve.
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In the United States, regulations on mobile sources
a. are imposed only at the state and local levels of government b. are outlined in Title II of the CAAA of 1990 c. are solely market-based d. impose controls on vehicles only, with no regulations on fuels
If Country A's real GDP is growing at 6 percent per year and Country B's real GDP is growing at 6 percent per year, then the standard of living is
A) growing more rapidly in Country A. B) higher in Country B. C) changing at the same rate in Country A and Country B. D) growing more slowly in Country A. E) changing at the same rate in Country A and Country B only if the rate of population growth is the same in both countries.
Figure 11-4
Physicians have two types of patients: private patients who pay directly or with insurance, and Medicaid patients whose care is paid for by the state. Physicians must lower prices to attract more private patients, but they can add unlimited Medicaid patients at a constant price. The situation facing Dr. Casey is depicted in Figure 11-4. Units of medical service (say, number of patients × number of visits) are measured on the horizontal axis. How many units of medical service will Dr. Casey deliver to Medicaid patients?
A. OA B. AC C. OC D. OD
Which of the following best represents the effects of an increase in the price of coffee, other things being equal?
a. A leftward shift in the demand curve for coffee. b. A downward movement along the demand curve for coffee. c. A rightward shift in the demand curve for coffee. d. An upward movement along the demand curve for coffee.