Which of the following is likely to have the most price inelastic demand?
a. mint-flavored toothpaste
b. toothpaste
c. Colgate mint-flavored toothpaste
d. a generic mint-flavored toothpaste
b
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As a firm hires more and more workers:
A) the value of marginal product of the additional workers eventually increases. B) the marginal product of the additional workers remains the same. C) the value of marginal product of the additional workers remains the same. D) the value of marginal product of the additional workers eventually decreases.
In 2002 - 2003, some McDonalds' franchise owners reported that profits were declining from selling the discounted items from the Dollar Menu. This suggests that:
A) those items are price elastic. B) those items are price inelastic. C) those items are price unitary elastic. D) none of the above.
A market economy allocates resources primarily in accordance with orders from government bureaucrats
a. True b. False Indicate whether the statement is true or false
Economists who argue in favor of rapid deficit reduction claim that deficit reduction will
a. reduce crowding in, reduce interest rates, and increase AS. b. stimulate AD and productivity. c. trigger crowding in, increase investment, and increase AS. d. reduce crowding out, increase investment, and increase AS.