Moving downward along a straight-line demand curve, the absolute value of the price elasticity of demand
a. always rises
b. rises until the midpoint of the curve is reached, and then falls
c. falls until the midpoint of the curve is reached, and then rises
d. always falls
e. falls from 1 to 0
D
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Answer the following statement(s) true (T) or false (F)
1. Reformulated fuel contains more oxygen to permit more complete combustion and to lower carbon monoxide emissions. 2. Used in certain nonattainment areas, the cleaner fuel that emits less hydrocarbons, carbon monoxide, and toxics than conventional gasoline is called oxygenated fuel. 3. Ethanol (E85) is a blend of 85 percent ethanol and 15 percent gasoline. 4. Ethanol (E10) is a blend of 10 percent gasoline and 90 percent ethanol and is known as gasohol. 5. Tax credits at the federal level are currently available for both hybrids and plug-in electric hybrids.
Suppose the equilibrium quantity of labor hired decreases and the equilibrium real wage rate increases. All else constant, this situation will also result in
A) more government outlay for the unemployed. B) higher output prices. C) lower output prices. D) fewer benefits for those still unemployed.
Shifts in the IS curve ________ the AD curve, and changes to the reaction function ________ the AD curve
A) cause a movement along; shift B) shift; cause a movement along C) temporarily shift; permanently shift D) permanently shift; temporarily shift
The idea that any public information you will be able to find will prove of little value to you when buying and selling stocks, because that information is so quickly incorporated into the trading prices of stocks, is known as the
A) theory of efficient markets. B) theory of fundamental analysis. C) principle of context. D) over-the-counter hypothesis.