PriceQuantity Demanded$510$420$330$240$150Refer to the table above. Starting at a $5 price, at what price range does demand become inelastic?
A. $3-4
B. $2-3
C. $1-2
D. $4-5
Answer: B
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Use the figure below to answer the following question.
If actual production and consumption occur at Q2
A. missing surplus of a + b + c + d occurs. B. economic surplus is maximized. C. missing surplus of e + f occurs. D. missing surplus of a + c occurs.
Randomization is the assignment of subjects by ________ to a ________
A) chance, rather than by choice; treatment group or into a test group. B) choice, rather than by chance; treatment group or into a test group. C) choice, rather than by chance; treatment group or into a control group. D) chance, rather than by choice; treatment group or into a control group.
Lenders sell bonds and borrowers buy them
a. True b. False Indicate whether the statement is true or false
Economists generally favor the use of tradable emission allowances to reduce pollution. However, the use of these allowances has been criticized by some environmentalists. Which of the following describes this criticism?
A) Some environmentalists believe the allowances give firms a license to pollute. B) Some environmentalists believe that the price of allowances is often too high for consumers to afford. C) Some environmentalists believe that Pigovian taxes are a more efficient way to reduce pollution. D) Some environmentalists oppose allowances on legal grounds; they believe the use of allowances is unconstitutional.