Refer to the table below. Total revenues will decrease if price rises from:
Answer the question based on the following table which shows a demand schedule.
A. $1 to $2
B. $2 to $3
C. $3 to $4
D. $4 to $5
D. $4 to $5
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A perfectly inelastic demand would imply what kind of demand curve?
A) horizontal B) vertical C) upward sloping D) downward sloping
Which of the following would be counted as a final good for inclusion in GDP?
a. A piece of glass bought this year by a consumer to fix a broken window. b. A sheet of glass produced this year by Ford for windows in a new car. c. A tire produced this year and sold to a car maker for a new car sold this year. d. None of these would be counted in GDP.
Which group believes that business cycles are unreal?
a. external cycle theorists b. internal cycle theorists c. real business cycle theorists d. housing cycle theorists e. innovation cycle theorists
In the United States, the payroll tax is also called a
a. dividend income tax. b. social insurance tax. c. value added tax. d. capital gains tax.