With regard to GDP, residential property taxes are an example of ____ taxes.

Joan's income has just risen from $940 per week to $1,060 per week. As a result, she decides to purchase 12 percent more lettuce per week. The income elasticity of Joan's demand for lettuce is

A) 0.75. B) 0.90. C) 1.00. D) 1.33.

You wish to buy only one CD. Use the rule of equal marginal utility per dollar to determine which one to purchase:

(a) Drake's latest CD for $15 which gives you 75 units of utility, or (b) Bob Dylan's "Shadows in the Night" for $10 that gives you 100 units of utility?