The paintings of a world famous artist Vincent Van Gogh have a price elasticity of supply
A. approaching infinity.
B. equal to 2.0.
C. equal to 1.0.
D. close to 0.0.
Answer: D
Economics
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Replacing employment-based health care with a government-run system could reduce employers payments for their workers insurance, but the amount that they would have to pay in overall compensation
A) would dramatically increase. B) would fall to zero. C) would dramatically decrease. D) would remain essentially unchanged.
Economics
A GDP price index of 130 in year 2 means that ________.
A. prices in year 2 are on average 130% higher than in the base year B. prices in year 2 are on average 13 times that in the base year C. nominal GDP is 130% higher than real GDP in year 2 D. prices in year 2 are on average 30% higher than in the base year
Economics