Which of the following products comes closest to having a perfectly inelastic demand?
A) gasoline
B) cholesterol medication in general
C) iPhones
D) bus rides
Answer: B
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What is the future value of $1 (i) after 18 years if the interest rate is 4 percent, (ii) after 12 years if the interest rate is 6 percent, (iii) after 9 years if the interest rate is 8 percent, and (iv) after 6 years if the interest rate is 12
percent?
Which of the following has resulted from the North American Free Trade Agreement (NAFTA)?
a. Domestic producers in the United States, Canada, and Mexico have free access to larger markets. b. The low wages of Mexican workers have made it virtually impossible for American and Canadian producers to export goods to Mexico. c. A smaller variety of goods are available to consumers in all three countries. d. Unemployment has increased in all three countries.
In the 1990s the United States' economy generated more than _______ million additional jobs.
A. 5 B. 10 C. 15 D. 20
If the supply of bananas increases, but the demand remains the same, which of the following would happen?
a. Price becomes indeterminate.
b. Quantity becomes indeterminate.
c. Price falls.
d. Quantity falls.