Refer to the graphs shown. Deadweight loss is the least with the imposition of a given per-unit tax on producers in graphs:
A. C and D.
B. B and C.
C. B and D.
D. A and D.
Answer: C
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Which of the following is not an autonomous determinant of consumption expenditures?
a. real wealth b. the interest rate c. tastes and preferences d. current disposable income
If the price of calculators increases by 15% and the quantity demanded per week falls by 45% as a result, then the price elasticity of demand is 3
a. True b. False Indicate whether the statement is true or false
Refer to the graph below. Assume the consumer has an income of $100, the price of X is $2 and the price of Y is $1. According to the graph below, the total effect of a decrease in the price of X from $2 to $1 is equal to: 
A. 25 B. 20 C. 30 D. 5
If price elasticity of supply is less than 1
A. demand is inelastic. B. supply is elastic. C. supply is inelastic. D. demand is elastic.