A. supply is elastic, and demand is perfectly inelastic
B. demand is elastic, and demand is perfectly inelastic
C. both supply and demand are relatively inelastic
D. both supply and demand are relatively elastic
Related Mcqs:
- Which of the following would likely cause the greatest deadweight loss ?
A. a tax on salt
B. a tax on cigarettes
C. a tax on petrol
D. a tax on cruise line tickets - Refer to Exhibit 4. If a tax is placed on the product in this market. deadweight loss is the area ?
A. B + C + E + F
B. E + F
C. B + C
D. A + B + C + D - If a tax on a good is doubled the deadweight loss from the tax ?
A. doubles
B. stays the same
C. increase by a factor of four.
D. could rise or fall - To aid its calculator producers, suppose that the government provides them a subsidy of $10 for each calculator produced The amount of imports now equals _____ and the deadweight loss of the subsidy to the Canadian economy equals _________?
A. 20 calculator, $50
B. 20 calculator, $100
C. 25 calculator, $50
D. 25 calculator, $100 - The deadweight cost of the tariff equals ?
A. $10,000
B. $25,000
C. $50,000
D. $75,000 - Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?
A. really don’t disagree at all It just appears that they disagree.
B. disagree because they have different values.
C. none of these answers.
D. disagree because they have different scientific judgments. - The form of dumping that represents the greatest potential net welfare loss the for importing national is ?
A. predatory dumping
B. sporadic dumping
C. persistent dumping
D. yearend dumping - Which of the following situations describes the greatest market power ?
A. Subaru’s impact on the price f cars
B. a farmer’s impact on the price of corn
C. Microsoft’s impact on the price of desktop operating systems
D. a student’s impact on college tuition - What is defined as the active management of resources to provide the greatest present benefit without comprising the potential benefits to future generations ?
A. Prudent development
B. Sustainable development
C. Managed economy
D. None of these - Which of the following reduces risk in a portfolio the greatest ?
A. Increasing the number of shares from 10 to 20
B. All of these answers provide the same amount of risk reduction
C. Increasing the number of shares in the portfolio from 1 to 10
D. Increasing the number of shares from 20 to 30
