Which of the following goods is more likely to be excludable?
A) a chocolate bar
B) a concert at Times Square
C) national defense
D) ocean breeze
A
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According to this Application, China's growth rate was faster than India's during this 26 year period because
A) China received more contributions from human capital than India received. B) China's growth was based more on human capital and India's growth was based more on physical capital. C) China's growth was based more on human capital and India's growth was based more on technological progress. D) China invested more in physical capital than India invested.
If Pete raises his price of muffins from $2 to $3 and his total revenue increases from $35,000 to $38,000, then:
A. the demand for Pete's muffins in this range is elastic. B. the demand for Pete's muffins in this range is inelastic. C. the demand for Pete's muffins in this range is unit elastic. D. the percentage change in quantity demanded must exceed the percentage change in product price.
What could low productivity growth in a country suggest?
What will be an ideal response?
Movie theaters often offer reduced rates for children under 10. This suggests that demand for adult admission is ________ than demand for children's admission.
A. more elastic B. less elastic C. more variable D. lower