Assume that demand is elastic. Of the elasticities shown here, which is the lowest that would still be considered elastic?
A. 10.0.
B. 1.01.
C. 1.00.
D. 0.01.
B. 1.01.
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In the case of a good that has no exclusion and no rivalry, private markets fail because
A) of free-ridership. B) this is a natural monopoly. C) profit is driven down to zero. D) the quantity produced will exceed the social optimum.
Answer the following statement(s) true (T) or false (F)
1. Pesticide reregistration refers to a reevaluation of a previously licensed pesticide that is already on the market. 2. The primary goal of the Pesticide Environmental Stewardship Program (PESP) is to regulate pesticide use. 3. FIFRA rulings require that no pesticide be sold or distributed unless it has been registered with the EPA. 4. The incremental benefits of pesticide use can be modeled as the change in consumer and producer surplus associated with an increase in the demand for an agricultural crop. 5. The first TSCA inventory was published in the 1970s.
Among the methods of nonprice rationing are
A. waiting in line. B. coupons. C. favored customers. D. all of the above
A currency board can ________ a country's ability to act as a lender of last resort
A) aggrandize B) limit C) enhance D) offset E) not affect