The elasticity of supply is given by
A. 
B. 
C. 
D. All of these are correct.
Answer: D
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Airlines in other countries buy airplanes from Boeing because
A) it is illegal to produce airplanes in many other countries. B) Boeing's prices are less than what the airlines would pay for planes built in their own country. C) trade treaties require such purchases. D) these nations must buy something from the United States. E) None of the above answers is correct.
Suppose the price level is unchanged and real GDP decreases. Then
A) nominal GDP must decrease. B) nominal GDP must remain unchanged. C) nominal GDP must increase. D) none of the above are true.
The Lithuanian tax rate for all citizens' income is 24 percent. If the Lithuanian government was concerned about income inequality, they should change the tax system from a system that is currently ________ to a system that is ________
A) progressive; proportional B) regressive; progressive C) proportional; progressive D) proportional; regressive
Economists generally agree that
a. human capital theory provides the best explanation of discriminatory practices. b. differences in average wages do not by themselves provide conclusive evidence about the magnitude of discrimination in labor markets. c. discrimination is exclusively an economic, rather than political, phenomenon. d. most of the wage differentials observed in the U.S. economy are due to discrimination.