In the figure above, what is the interval elasticity of demand over the price range $60 to $80?
A. -0.75
B. -2.00
C. -1.40
D. -1.00
E. -1.10
Answer: C
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Outside lags occur because
A) it takes time to identify a problem. B) firms must change investment plans before monetary policy can be effective. C) once changes are finally diagnosed and implemented, policies are immediately effective. D) once a problem is diagnosed, it still takes time to implement policy changes.
Economic theory assumes elected and appointed government officials
A) place their personal or private welfare ahead of the public interest. B) place the public interest ahead of any personal or private interests of their own. C) are free to pursue the public interest because they aren't constrained by competition. D) respond to the anticipated costs and benefits to themselves of decisions contemplated.
The U.S. poverty rate is higher among households headed by black married couples than those headed by white females
a. True b. False
Using the income approach, the largest portion of GDP is:
a. employee compensation. b. net interest. c. rent. d. profits. e. depreciation.