A federal budget deficit ________ the change in government bonds issued by the U.S. Treasury and ________ the national debt

A shift of the supply curve of oil raises the price from $60 a barrel to $75 a barrel and reduces the quantity demanded from 40 million to 20 million barrels a day. You can conclude that the

A) demand for oil is elastic. B) demand for oil is inelastic. C) supply of oil is elastic. D) supply of oil is inelastic.

Monopolists are able to price discriminate because

A) of differing willingness to pay among consumers. B) of differing price elasticities of supply. C) they have constant marginal cost. D) they have constant average cost.