Which good most likely has the lowest elasticity of demand?
A) Macintosh computers
B) Toothpicks
C) Chemotherapy treatment
D) Sirloin steaks
E) VCR players
B
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Choose the letter of the diagram in Figure 36.2 that represents the shift in the foreign exchange market for dollars given the following situation, ceteris paribus: The president of the United States decides to support the dollar by purchasing dollars with U.S. holdings of foreign currencies.
A. a. B. b. C. c. D. d.
Which of the following statements, if any, is correct for a nation that is producing only consumer and capital goods?
A. Other things equal, the more consumer goods a nation produces, the greater will be its future growth rate. B. Other things equal, the more capital goods a nation produces, the greater will be its future growth rate. C. There is no general relationship between the current division of output between consumer and capital goods and the future growth rate. D. None of these statements is correct.
The market value of a bond on any given day is also known as its par value.
Answer the following statement true (T) or false (F)
Consider the following game. You pick a card from a 52-card deck and each time you select a queen, you get $520. For all other cards pay $26. The expected value of the game is
A. -$24. B. $0. C. $16. D. $64.