Monopolistic competitors that give better deals to new customers than old customers assume that regular buyers have a ____________ demand than new buyers.
A. less inelastic
B. more inelastic
C. more elastic
D. None of these choices are correct.
B. more inelastic
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Unlike a private good, a public good
A. has no opportunity costs. B. produces no positive or negative externalities. C. has benefits available to all, including nonpayers. D. is characterized by rivalry and excludability.
The primary means of rationing goods and services in a market system is through
a. the pricing system. b. rationing coupons. c. government allocation. d. food stamps.
Which of the following is true?
a. The proportion of college degrees earned by women has been virtually unchanged during the last four decades. b. There was a substantial increase in the earnings of women relative to men in the 1960s and 1970s following the passage of legislation prohibiting employment discrimination against women. c. The number of women preparing for careers as professionals has declined during the last two decades. d. In 2010, 57 percent of those completing college degrees were women.
If the rich pay more in taxes than the poor, the tax system must be progressive
a. True b. False Indicate whether the statement is true or false