Use the following graph to answer the question. 
Between prices of $5.70 and $6.30
A. D2 is more elastic than D1.
B. D1 and D2 have identical elasticities.
C. D1 is more elastic than D2.
D. D2 is noncomparable to D1.
Answer: A
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All governments face a budget constraint: none can spend more than the sum of current government revenues plus the amount that creditors are willing to lend. Why, then, do government budget deficits matter?
What will be an ideal response?
From a point within the utilities possibilities frontier,
A) movement to another point within the frontier can only increase one person's utility, but not both people's utility. B) it is possible to find another point within the frontier that generates higher utility for both people. C) it is possible to find another point within the frontier that involves higher output of both goods. D) any move to another point within the frontier will necessarily decrease someone's utility.
The national income accounting system provides a measure of:
a. only the total amount of profits made by business firms. b. the total value of all inputs used in production. c. the government budget surplus and deficit. d. the net exports of a nation. e. the output of an entire economy.
In comparing money to a share of Microsoft stock held by an individual, we can say:
A. the share of stock is an asset, but money is a liability. B. only the money is a means of payment, but both are stores of value. C. both the Microsoft stock and the money are liabilities. D. only the money is a means of payment, but both are units of account.