Suppose when the price of calculators is $18, the quantity demanded is 90, and when the price is $22, the quantity demanded drops to 70. Using the mid-point method, the price elasticity of demand is:
A. -25
B. - 1.25
C. - 20 percent
D. - 25 percent
Answer: B
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If in 2016, a woman made $100,000 on the job, $20,000 from a consulting business she operated, and $10,000 in dividends on stock she owned, she would owe old-age Social Security taxes on
A. $87,000. B. $97,500. C. $130,000. D. $118,500.
Youland is hit by a recession. What will be the impact of a countercyclical policy on labor demand in Youland if nominal wages are downwardly rigid?
What will be an ideal response?
According to the graph shown, the original world price is _______ and the amount of the tariff is _________.
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. $100; $30
B. $100; $130
C. $175; $45
D. $215; $115
One common source of market failure is:
A. perfect competition. B. pollution. C. perfect information. D. private goods.