The figure illustrates the demand for hamburgers. When the price is $1.00 a hamburger, the elasticity of demand is ________ and a 1 percent increase in the price will ________ the quantity of hamburgers demanded by ________ percent
A) 1.00; decrease; 0.40
B) 0.40; decrease; 0.40
C) 2.50; increase; 2.50
D) 5.00; decrease; 5.00
B
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Bonds with ________ tend to have lower interest rates than bonds with ________
A) high liquidity; low liquidity B) high default risk; low default risk C) longer maturity; shorter maturity D) high tax burdens on their interest; low tax burdens on their interest
Which if the following is a normative statement?
a. The extent of income inequality in the United States is unjust. b. An increase in the demand for gasoline will lead to an increase in its price. c. The American Recovery and Reinvestment Act has created hundreds of thousands of jobs. d. The current unemployment rate is 8.5% e. Inflation harms individuals living on fixed incomes.
A tax on buyers increases the size of a market
a. True b. False Indicate whether the statement is true or false
Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. If two drones are produced, total variable costs are
A. $25. B. $30. C. $50. D. $80.