Refer to the following graph. When the price falls from $10 to $8, demand
a. is most elastic if the demand curve is D2.
b. is most elastic if the demand curve is D.
c. is most elastic if the demand curve is D1.
d. is most inelastic if the demand curve is D.
c. is most elastic if the demand curve is D1.
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The Budget of the United States Government is officially submitted by: a. the President to Congress and contains spending and revenue proposals for the upcoming fiscal year. b. Congress to the President and contains spending and revenue proposals for the upcoming fiscal year. c. the President to Congress and contains proposals for tax revenues
d. Congress to the President and contains proposals for tax revenues. e. the President to Congress and is reviewed by the Supreme Court.
If the dollar appreciates in the foreign exchange market:
A. net exports will increase. B. net exports will be unaffected. C. net exports will decrease. D. It is impossible to say how net exports will be affected without knowing how net capital outflow is affected.
Suppose the market price of zinc doubles. Which of the following scenarios is most likely?
A) The demand for zinc miners will increase, raising the market wage rate. B) The demand for zinc miners will decrease, reducing the market wage rate. C) The demand for zinc will increase, raising the market price further. D) The demand for zinc miners will decrease, reducing the market price back to its original price.
Refer to the above table. When the quantity of labor equals 2, what does the average product equal?
A. 26 B. 46 C. 23 D. 92