On a linear demand curve, demand is ________ at large quantities than it is at the middle of the demand curve.
A. more elastic
B. less elastic
C. equally elastic
D. There is insufficient information in the question.
Answer: B
Economics
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If the government institutes an investment tax credit and decreases income taxes,
a) real GDP falls, and the price level could rise, fall, or stay the same. b) real GDP and the price level fall. c) real GDP rises, and the price level could rise, fall, or stay the same. d) real GDP and the price level rise.
Economics
Most theories of comparative advantage explain trade patterns due to international differences in
A) demand conditions. B) supply conditions. C) demand and supply conditions. D) tariffs.
Economics