The amount of a particular good that sellers in a market will sell at a given price during a specified period is called:
A. quantity demanded.
B. quantity supplied.
C. demand.
D. supply.
B. quantity supplied.
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To help pay for the cost of sport related injuries, the government imposes a tax on sellers of all sports equipment. The sports equipment consumers' share of this tax would be greater than that shown in the above figure
A) only if the demand was more elastic. B) only if the demand was more inelastic. C) only if the supply was more elastic. D) if either the demand was more inelastic or the supply more elastic.
If there's an increase in the future marginal product of capital in a large open economy, it causes the current account to ________ and saving to ________
A) fall; rise B) rise; remain unchanged C) fall; remain unchanged D) rise; rise
A perfectly inelastic demand curve is
A) a horizontal straight line. B) a vertical straight line. C) a downward sloping straight line that intersects the horizontal axis at the origin. D) an upward sloping straight line that crosses the vertical axis.
Pair-wise majority voting eliminates which problem?
A. Majority options problem B. Swing-vote problem C. Misalignment problem D. Third party problem