Demand is inelastic when elasticity is ______.
a. less than 1
b. less than 2
c. more than 1
d. more than 2
a. less than 1
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Which of the following groups benefits from regulation, according to the special interest theory of regulation?
a. all consumers b. all producers c. only certain consumers d. only certain producers e. society as a whole
The recent experience in Greece, Portugal, and Ireland make the euro
a. seem very unlikely to fail because of decreasing debt levels. b. seem very unlikely to fail because of increasing interest rates. c. seem somewhat likely to fail because of increasing debt levels. d. seem somewhat likely to fail because of increasing interest rates.
Jackie saves $100 and receives $106 the next year. During the same year, the price of the basket of goods that she purchases increases from $100 to $104 . What is nominal interest rate on Jackie's saving? What is the real interest rate on Jackie's saving? What was the inflation rate?
Refer to the above table. What is the marginal utility for the 10th unit for Hillary and for Bill?
A. Hillary: 10; Bill 10 B. Hillary: 220; Bill 450 C. Hillary: -10; Bill: 10 D. Hillary: 0; Bill: 0