in general a flatter demand curve is more likely to be ?

A. Price elastic
B. None of these answers
C. Unit price elastic
D. Price inelastic

The Keynesian remedy for unemployment is to ?

A. Decrease aggregate demand
B. Reduce tax rates or lower interest rates
C. Decrease government spending
D. Decrease private consumption and investment

If a small percentage increase in the price of a good greatly reduces the quantity demanded for that good, the demand for that good is ?

A. Income inelastic
B. Price inelastic
C. Price elastic
D. Unit price elastic

Which of the following would cause a demand curve for a good to be price inelastic ?

A. The good is luxury
B. There are a great number of substitutes for the good
C. The good is a necessity
D. The good is an inferior good

If the cross-price elasticity between two goods is negative the two goods are likely to be ?

A. Substitutes
B. Complements
C. Necessities
D. Luxuries

If a fisher must sell all of his daily catch before it spoils for whatever price he is offered once the fish are caught the fisherman’s price elasticity of supply for fresh fish is ?

A. Zero
B. Infinite
C. One
D. Unable to be determined form this information

If an increase in the price of a good has no impact on the total revenue in that market demand must be ?

A. All of these answers
B. Price inelastic
C. Unit price elastic
D. Price elastic

If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?

A. 1.50
B. 1.15
C. none of these
D. 0.15

Entrepreneurship is the ?

A. Technique to manage raw materials efficiently
B. Residual of a production function
C. Resource coordinating other productive resources
D. Blueprint on how to manage the labor force

Which of the following is not capita good ?

A. Plant and equipment
B. Buildings
C. Inventories
D. Consumers goods