Within the range of prices around the midpoint on a straight-line demand curve, demand is

A) elastic.
B) inelastic.
C) unit-elastic.
D) zero.

Answer: C

Economics

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During the last 20 years, what has happened to the marginal tax rates imposed on high-income taxpayers and the personal income tax revenues collected from them?

a. Both the rates imposed and the revenues collected from the rich have increased. b. Both the rates imposed and the revenues collected from the rich have declined. c. The tax rates imposed on the rich have declined, but the revenues collected from them have increased. d. The tax rates imposed on the rich have increased, but the revenues collected from them have declined.

Economics

The major impact unemployment insurance has on the U.S. economy is that it

A. incentivizes people to work. B. spreads the cost of unemployment. C. eliminates the social cost of job loss. D. prevents the emotional impact of job loss.

Economics