If Maria spends a fixed dollar amount per week on movie rentals regardless of changes in the price, Maria's demand for movie rental can be considered:
A. elastic.
B. unit elastic.
C. inelastic.
D. There is not sufficient information to determine the price elasticity.
Answer: B
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Which of the following displays these two characteristics: nonrivalry and excludability?
A) public goods B) private goods C) quasi-public goods D) common resources
It is possible that class discrimination has become a stronger force in American society than racial discrimination
Indicate whether the statement is true or false
Interest payments on the national debt are not a problem because we owe all of it to ourselves
Indicate whether the statement is true or false
The terms of trade is defined as:
a. the quantity of inputs sacrificed to produce each unit of a good. b. the quantity of one good that is exchanged for a quantity of another good. c. the ratio of the total cost of production of individual traders. d. the marginal cost of producing one good as a percentage of the marginal cost of another good. e. the ratio of total exports of a nation to its total production.