How much the demand for one good changes in response to a change in the price of a different good is measured by:

Under current tax law individuals do not pay taxes on health insurance benefits they receive from their employers. As a result,

A) individuals are encouraged to want generous health coverage that reduces their incentives to cut costs. B) the quality of health care provided is less than it would be if benefits were taxed. C) politicians are encouraged to raise income and payroll taxes. D) the federal government spends more than it receives in tax revenue.

In the 1930s, the United States charged an average tariff rate ________. Today, the rate is ________

A) of 17 percent; 33 percent B) of less than 10 percent; over 40 percent C) of 100 percent; 20 percent D) above 50 percent; less than 1.5 percent