If quantity demanded falls by 25 percent when price rises by 50 percent, demand is said to be:
A. unit elastic.
B. elastic.
C. inelastic.
D. proportional.
Answer: C
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Dina is driving to work on an interstate highway at 90 MPH, well in excess of the legal speed of 65 MPH. Sandy is also driving to work at the same time, going 85 MPH. A state trooper pulls Dina over and gives her a speeding ticket. Sandy continues driving, but if Dina had not been speeding, the trooper would have ticketed Sandy instead. In terms of externalities, this story shows that:
a. Sandy's actions gave Dina a positive externality. b. Dina's actions gave Sandy a positive externality. c. Sandy's actions gave Dina a negative externality. d. Dina's actions gave Sandy a negative externality. e. Dina's and Sandy's actions did not create any externalities.
An external market
A) should always replace internal markets. B) have problems that internal markets do not. C) should be used to discipline the internal market. D) fewer economies of scope.
Kathleen is considering expanding her dress shop. If interest rates rise she is
a. less likely to expand. This illustrates why the supply of loanable funds slopes downward. b. more likely to expand. This illustrates why the supply of loanable funds slopes upward. c. less likely to expand. This illustrates why the demand for loanable funds slopes downward. d. more likely to expand. This illustrates why the demand for loanable funds slopes upward.
Which tax form would you select for a Subchapter S corporation?
a. Form 1120 b. Form 1120S c. Form 1040 d. Form 1040S