About what percentage of the U.S. population had no health insurance for the entire year in 2011?
A. 7 percent
B. 16 percent
C. 25 percent
D. 33 percent
B. 16 percent
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Mary has to choose between a four-day vacation and a five-day vacation to the same place. To arrive at the optimal choice, which optimization technique do you think will be arithmetically easier and faster to implement and why?
What will be an ideal response?
In the United States, a patent gives the patent holder exclusive rights to an invention for typically how many years?
A) 20 B) 5 C) lifetime of patent holder D) 15
If your income goes up by 10% and you increase your pedicures by 5%, then your demand for pedicures is ________.
A. income elastic B. income inelastic C. income unit elastic
Which of the following would result from an increase in the demand for a good?
A. Both equilibrium price and quantity would rise. B. Both equilibrium price and quantity would fall. C. Equilibrium price would rise, and equilibrium quantity would fall. D. Equilibrium quantity would rise, and equilibrium price would fall.