Economic growth occurs when there is
A) lower taxes on individuals.
B) growth in government spending.
C) growth in technology that increases productivity.
D) more environmental regulation.
C
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If a specific segment of a demand curve is price elastic, then we know that anywhere along that segment, the
a. percentage change in the quantity demanded exceeds one b. percentage change in quantity demanded exceeds the percentage change in price c. percentage change in price exceeds the percentage change in quantity demanded d. the change in quantity demanded exceeds the change in price e. the good has no close substitutes
An increase in the price of good X causes the demand curve for good Y to shift to the left. We know then that
a. X and Y are complementary goods b. X and Y are substitute goods c. X and Y are inferior goods d. X is a normal good and Y is an inferior good e. X is an inferior good and Y is a normal good
The median-voter theorem suggests that:
A. voters tend to vote with a "mob-mentality," all voting the same. B. Politicians always receive more votes in general elections when they appeal to extremists in their party. C. the middle voter is generally influenced by the side they have more information on concerning an issue. D. politicians maximize their votes by taking the policy position preferred by the median voter, under certain conditions.
If a state government wants to collect the maximum tax revenue from a unit excise tax, which of the following would they tax?
A) cigarettes B) beef hamburgers C) luxury cars D) hotdogs