Larry Lawnlover is trying to decide whether it would be more efficient to trim his lawn with a hand-operated clipper or to buy and use an electrically operated weed-trimmer
Which of the items below will help determine the more efficient choice for Larry? A) Larry's dislike for the noise created by power tools
B) Larry's fear of being injured while using power tools
C) The sensitive skin on Larry's hand, which causes him to develop, blisters easily
D) All of the above.
E) None of the above.
D
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According to a study of the U.S. demand for alcoholic beverages, the price elasticity of demand for beer is -0.30. Which of the following could explain why the price elasticity of demand for beer is low?
A) More and more people are switching to wine and cocktails rather than beer. B) Beer is an inferior alcoholic beverage. C) There are only a few major suppliers of beer. D) The price of beer is relatively low and for many people it is a habit forming product.
As the dollar appreciates, which of the following is most likely to occur?
a. More Americans will travel abroad. b. American imports will fall. c. More foreigners will visit the United States. d. American firms will reduce their investments abroad.