If the price of salt increases and the quantity demanded does not change, then
A) the price elasticity of demand is equal to zero.
B) demand is perfectly inelastic.
C) the demand curve for salt is horizontal.
D) Both answers A and B are correct.
D
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It is possible for the government to remove individuals from a prisoner's dilemma setting and make them better off.
Answer the following statement true (T) or false (F)
The "duplication laws," passed by Parliament in the late 17th and 18th centuries, restricted colonial export of
a. woolen goods. b. tobacco. c. pig iron. d. cotton. e. All of the above.
Your roommate tells you she's going to join the gym next week. A week and a half goes by and you ask her how the gym is going, and she tells you she's going to wait until the following week. Your roommate's preferences are:
A. better today than tomorrow. B. time inconsistent. C. mistakes. D. considered bad choices.
The very high pay earned by the best actors and actresses is partially explained by the fact that
a. they benefit from a compensating differential. b. moviegoers all want to see the very best actors, not second-rate actors. c. they have acting degrees from accredited acting schools. d. the supply of good actors is very large.