The absolute price elasticity of demand for a vertical demand curve
A) is infinite.
B) is 1.0.
C) is 0.
D) depends on where one is on the demand curve.
Answer: C
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All of the following would be considered explicit costs of operating a business except
A) the rental value of equipment the company owns and uses for its own production. B) advertising expenses. C) utility expenses. D) the cost of raw materials used in production.
Current account transactions are records of the income and expenditures from exports and imports, plus international financial investments and borrowing
a. True b. False
The Great Homebody Nationwide Sweepstakes promises its winners a choice between $200,000 now or $120,000 now and $100,000 next year. The winners should take the $200,000 now
a. no matter what the interest rate is b. no matter what the interest rate is, if their rate of time preference is high c. no matter what the interest rate is, if their rate of time preference is low d. only if the interest rate is above 25 percent e. only if the interest rate is below 25 percent
Suppose that the consumer price index at year-end 2004 was 140 and by year-end 2005 had risen to 150. What was the inflation rate during 2005?
What will be an ideal response?