A payment to an owner of a resource in excess of its opportunity cost is know as

Which of the following is NOT a characteristic of populist regimes?

A) Nationalistic ideologies B) Focus on economic growth C) Focus on income redistribution D) Using economic tools to reach specific goals regarding labor, the orientation of business or the role of foreigners E) Focus on controlling inflation

Refer to Figure 2.1. At point A, demand is:

A) completely inelastic. B) inelastic, but not completely inelastic. C) unit elastic. D) elastic, but not infinitely elastic. E) infinitely elastic.