If the price elasticity of demand is 1, demand is:
A. upward sloping.
B. inelastic.
C. unit elastic.
D. elastic.
Answer: C
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Which of the following options could be used to eliminate a recessionary gap?
A. Decrease consumption B. ?Increase investment C. ?Decrease investment D. ?Increase taxes
One defining characteristic of pure monopoly is that:
A. the monopolist produces a product with no close substitutes. B. the monopolist is a price taker. C. there is relatively easy entry into the industry, but exit is difficult. D. the monopolist uses advertising.
Refer to the above figure. Suppose the U.S. economy is currently operating at point C. Which of the following actions would you recommend to the president of the United States?
A. Engage in contractionary fiscal policy by raising income taxes. B. Raise government spending to stimulate investment, consumption and net exports. C. Reduce the interest rate to stimulate investment minimizing the crowding out effect. D. Increase government spending while holding taxes constant.
In 2016, ________ percent of people enrolled in health insurance marketplaces had a choice of at least three insurance companies from which to buy a policy. By 2017, ________ percent had that choice
A) 85; 57 B) 98; 18 C) 66; 79 D) 72; 88