When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure
a. elastic; price; quantity
b. unit elastic; price; quantity
c. inelastic; quantity; price
d. inelastic; price; quantity
e. none of the above
b
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Describe the main provisions of the Maastricht Treaty of 1991
What will be an ideal response?
A public good, such as a community's emergency warning sirens, typically
a. imposes benefits on only a few individuals but imposes costs on many people b. imposes both benefits and costs on relatively few individuals c. imposes benefits on many individuals but imposes the costs on relatively few people d. imposes both benefits and costs on many individuals e. only imposes costs on individuals when logrolling is prevalent in the government
According to the text, as compared to rich countries, most of the poor countries do not fare well because:
a. they have no oil. b. the people in these countries have limited property rights. c. access to education in these countries is very limited. d. high tariffs in these countries prevent international trade. e. they do not have any natural resources.
Refer to the given table. Relative to column A, column B represents:Price Per UnitColumn A Units Per YearColumn B Units Per Year$20100110$308595$407080$505565$604050
A. an increase in demand. B. a decrease in supply. C. an increase in supply. D. a decrease in demand.