Economists would describe the U.S. automobile industry as:
A. purely competitive.
B. an oligopoly.
C. monopolistically competitive.
D. a pure monopoly.
Answer: B
Economics
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The relationship between a change in consumer income and a resulting change in demand for a good is
A. demand elasticity. B. income elasticity of demand. C. cross elasticity of income demand. D. supply elasticity.
Economics
Using the Rule of 72, how long will it take something growing at 2% per year to double?
A. 36 years B. 100 years C. 144 years D. 50 years
Economics