Along a straight-line demand curve:
A. both the slope and the price elasticity are constant.
B. the slope is constant but the price elasticity is not.
C. the slope is not constant, but the price elasticity is.
D. neither the slope nor the price elasticity is constant.
B. the slope is constant but the price elasticity is not.
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What will be an ideal response?
One way to solve the problems caused by information asymmetry is:
A. proofing. B. surfing. C. signaling. D. All of these are solutions to information asymmetry.
If marijuana were legalized, it is likely that there would be an increase in the supply of marijuana. Advocates of marijuana legalization argue that this would significantly reduce the amount of revenue going to the criminal organizations that currently supply marijuana. These advocates believe that the
a. supply for marijuana is elastic. b. demand for marijuana is elastic. c. supply for marijuana is inelastic. d. demand for marijuana is inelastic.
GNI and PPP data are useful because they provide a dynamic analysis of economic development.
a. true b. false