Suppose you are given the following demand data for a product.PriceQuantity Demanded$1030940850760670The price elasticity of demand (based on the midpoint formula) when price decreases from $9 to $7 is
A. -1.16.
B. -2.27.
C. -.63.
D. -1.60.
Answer: D
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What's the firm's contribution margin?
a. $1800 b. $800 c. $1000 d. $300
The Fed's quick response to the threat to the economy after September 11, 2001, makes a strong case for
a. a rules-based monetary policy regime. b. a discretionary-based monetary policy regime. c. the superiority of fiscal policy. d. the dominant role of Congress in activist policy.
The difference between the national debt and a federal budget deficit is
A) nothing; the national debt and the budget deficit are the same thing. B) the federal budget deficit represents the total amount of outstanding government debt while the national debt includes only the increase in the debt during the current year. C) the national debt represents the cumulative effect of all previous budget deficits and surpluses, while the federal budget deficit reflects only the additions to the debt during the current year. D) the national debt is financed primarily through government bonds, while the deficit is financed through taxes.
Refer to the diagram. Which tax system has the least built-in stability?
A. T 4 .
B. T 3 .
C. T 2 .
D. T 1 .