A recession has hit Potentia. Which of the following can stimulate the economy?
A) Lowering of government expenses B) Imposition of new taxes
C) Lowering interest rates D) Lowering the supply of money
C
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A large government encounters a production possibilities frontier essentially the same as one faced by a business firm.
Answer the following statement true (T) or false (F)
Figure 14.4 represents the market for used 12 megapixel digital cameras. Suppose buyers are willing to pay $400 for a plum (high-quality) used digital camera and $200 for a lemon (low-quality) used digital camera. At any price between $X and $Z:
A. only plums will be supplied. B. only lemons will be supplied. C. both plums and lemons will be supplied D. neither plums nor lemons will be supplied.
If a good has an absolute price elasticity of 4, the demand for the good is
A. unit elastic. B. inelastic. C. perfectly elastic. D. elastic.
The formation of cartels is illegal in all countries of the world
Indicate whether the statement is true or false