Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2012 and 2016

Consider a hypothetical economy, whose GDP was $10,000 . consumption equaled $9,800, investment equaled $125, goods exported equaled $255, and goods imported equaled $500, in 2010 . Calculate the government spending in this economy during the year

a. $120 b. $380 c. $245 d. $200 e. $320

If the elasticity of demand for cigarettes is 0.4, then an increase in the price of a pack of cigarettes from $5.00 to $6.00 would reduce quantities demanded by about

a. 7 percent. b. 40 percent. c. 42 percent. d. 220 percent.