When Scuba, Inc., lowered the price of a tank of compressed air by 20 percent, it sold 10 percent more tankfuls. The price elasticity for compressed air is
A. 2
B. 1/2.
C. 1
D. 20
Answer: B
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The United States has ________ social insurance programs, and generally has a ________ unemployment rate, as compared to Canada and Western Europe
A) less generous; lower B) more generous; greater C) less generous; greater D) more generous; lower
Which of the following is a correct description of Libor?
A) an average interest rate from sixteen large banks are paying to borrow funds from other large banks. B) an interest rate calculated by the British Banker's Association every day at 11 a.m. London time C) an interest rate tied to corporate and mortgage loan contracts valuing roughly $400 trillion D) all of the above
If the marginal utility of the 3rd cup of coffee is 23 and the marginal utility of the 4th cup is 15, then:
A. it is optimal for the consumer to have 4 cups of coffee. B. it is optimal for the consumer to have 3 cups of coffee. C. the price of a cup of coffee must be relatively low. D. there is evidence of diminishing marginal utility.
What does not cause a direct increase in consumption spending
What will be an ideal response?