Which of the following economic indicators is used by the World Bank to classify countries as industrial or emerging economies?
a. GDP
b. Rate of inflation
c. Net exports
d. Per capita income
e. Budget deficits
d
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The air route from Dallas to Mexico City is served by more than one airline. The demand for tickets from American Airlines for that route is probably
A) inelastic but more elastic than the demand for all tickets for that route. B) elastic and more elastic than the demand for all tickets for that route. C) inelastic and less elastic than the demand for all tickets for that route. D) elastic but less elastic than the demand for all tickets for that route.
Why isn't slope as useful as elasticity to measure the responsiveness of one variable to another?
What will be an ideal response?
Refer to Table 20-1. The unemployment rate for this simple economy equals
A) (100/1,000 ) × 100. B) (100/15,000 ) × 100. C) (100/1,100 ) × 100. D) (100/20,000 ) × 100.
The antitrust law that prohibits price discrimination on grounds that it reduces competition is
A) the Federal Trade Commission Act. B) the Clayton Act. C) the Robinson-Patman Act. D) the Sherman Act.