When the price of fresh fish increases 10%, quantity demanded is unchanged. The price elasticity of demand for fresh fish is
A. perfectly inelastic.
B. inelastic.
C. unitary elastic.
D. elastic.
Answer: A
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In the figure above, the tax wedge is equal ________ per hour, the after-tax real wage rate is equal to ________, and the before-tax real wage rate is equal to ________
A) $20; $30; $35 B) $15; $20; $35 C) $20; $30; $20 D) $10; $30; $30 E) $30; $20; $35
The purchase of $1 million of Treasury securities by the Federal Reserve, if there is no change in the quantity of currency, will cause reserves at banks to
A) increase by $1 million. B) decrease by less than $1 million. C) decrease by $1 million. D) increase by less than $1 million.
Wal-Mart's store managers have the authority to stock items and price them to satisfy localized demand. Which of the following properties of this retail store is illustrated here?
a. Relationship with employees b. Regional relationships c. Centralized decision making d. Decentralized decision making
In order to be able to consume more in the future, you have to consume
A. more consumer goods. B. less today and save the difference. C. fewer capital goods. D. more today to increase supply.