Demand is elastic when the elasticity is ______.
a. less than 1
b. less than 2
c. greater than 1
d. greater than 2
c. greater than 1
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On the risk side of the analysis, your team reviews the following data from the risk assessment process. Interpret each of these quantitative findings about pesticide risk, by stating precisely what the numerical value(s) mean or imply in each case. Be specific. (i) Pesticide W: Reference Dose (RfD) = 0.005 (ii) Pesticide X: threshold level of 0 for infants and children (iii) Pesticide Y: carcinogenic risk of 0.0075 percent (iv) Pesticide Z: a dose (D)-response (R) function modeled as R = 0 for all D < 0.6, R = – 0.3 + 0.5D for all D ? 0.6.
Suppose you are part of an economic analysis team charged with recommending a policy response to pesticide risks. Your team decides to use risk-benefit analysis as its risk management strategy.
The following OLS assumption is most likely violated by omitted variables bias:
A) E(ui Xi) = 0 B) (Xi, Yi) i=1,..., n are i.i.d draws from their joint distribution C) there are no outliers for Xi, ui D) there is heteroskedasticity
Expansionary open market operations (OMO) by a nations's Central Bank (CB) refers to:
A) The purchase of government bonds (Treasury securities) by a nation's CB in a primary market transaction. B) The purchase of government bonds (Treasury securities) by a nation's CB in a secondary market transaction. C) The selling of government bonds (Treasury securities) by a nation's CB in a primary market transaction. D) The selling of government bonds (Treasury securities) by a nation's CB in a secondary market transaction. 1. B and D Conly 2. B only 3. D only 4. C only
Long-run equilibrium will occur at the price level at which
A. the long-run aggregate demand and short-run aggregate supply curves intersect. B. the aggregate demand and long-run aggregate supply curves intersect. C. the aggregate demand and short-run aggregate supply curves intersect. D. the short-run aggregate supply and long-run aggregate supply curves intersect.