If a hot dog vendor on a street corner experiences an increase in total revenue after lowering the price of a hot dog, then the demand for the hot dogs must be elastic
Indicate whether the statement is true or false
TRUE
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Which firm is not dealing with adverse selection
a. a manufacturer requires a 90 day probationary period for new employees b. a temporary clerical agency requires a typing test c. a manufacturer requires suppliers to be ISO 900 . certified d. Smokers get the same life insurance rates as non-smokers
Judging from the table of the four types of goods, goods that are excludable would include ______.
a. pizzas and movie streaming
b. rainforest trees and street lighting
c. the atmosphere and rainforest trees
d. pizzas and street lighting
Which of the following was not a priority of Soviet planners?
(A) Luxury items for consumers. (B) Space program. (C) Heavy machinery manufacturing. (D) Defense injury.
Refer to the below graph of the market for wheat. The government adopts a price support program for wheat, and supports the wheat price at P2. The triangular area defined by points B and C and the intersection of the supply and demand curve represents the:
A. Parity ratio
B. Taxpayers' burden
C. Efficiency gain
D. Efficiency loss