The cross-price elasticity of demand for coffee and caskets is likely to be
A) less than zero.
B) greater than zero.
C) zero.
D) infinity.
C
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Jane is a 25 year old, full-time student. She works part time in her school library and is paid $7 an hour. She is considered to be
A) not in labor force. B) not in the working-age population because she is in college. C) employed. D) unemployed. E) in labor force but not working.
Briefly describe monetarism and the monetary growth rule
What will be an ideal response?
If a monopolist produces to a point at which marginal revenue is less than marginal cost then
A) profits are being maximized. B) profits will always be negative. C) the incremental cost of producing the last unit exceeds the incremental revenue. D) the incremental cost of producing the last unit is less than the incremental revenue.
A critical assumption made by all economic models is that
a. few economic decision makers face constraints under capitalism b. few economic decision makers face constraints under communism c. every economic decision maker, except the extremely wealthy, faces constraints d. every economic decision maker, except the federal government, faces constraints e. every economic decision maker faces constraints under every economic system