Prices and Quantities Year Price of Cereal Quantity of Cereal Price of Milk Quantity ofMilk 2015 $4.00 100 $1.50 180 2016 $4.00 120 $2.00 200    In 2016, this country’s   1.  real GDP was $880, and the GDP deflator was 111.4.   2..  real GDP was $780, and the GDP deflator was 88.6.   3..   real GDP was $880, and the GDP deflator was 112.8.   4.  real GDP was $780, and the GDP deflator was 112.8.

Which country was known to have had a one child policy to reduce their population? 1. North Korea 2. Cuba 3. Russia 4. China

What is the situation with face masks? 1. they were first elastic in supply and are now inelastic 2. they were first inelastic in supply and are now elastic 3. they were always inelastic in supply 4. they were always elastic in supply

The Laffer curve shows the relationship between   1.  the tax rate to tax revenue raised by the tax.   2.  Gdp per capita and the amount of inequality in a country   3.  the price elasticity of supply to the deadweight loss of the tax.   4.  The distribution of inequality in a country

Which of these would be considered the most elastic in supply 1. iPhone 12 2. online textbook 3. gold coins 4. Mona Lisa painting

When the price of an eBook is $15.00, the quantity demanded is 400 eBooks per day. When the price falls to $10.00, the quantity demanded increases to 1200. Given this information and using the midpoint method, we know that the demand for eBooks is inelastic elastic unit perfectly

Since the beginning of the pandemic, the elasticity of supply for face masks has become ______ elastic.  

What is not a main reason for the government to collect taxes? Pay for public goods  To prevent the economy from overconsuming. Prevent negative externalities        Redistribute wealth

Income Tax rate $0 to $40,000 25% $40,000 to $100,000 40% Over $100,000 60% What is your effective tax rate if you earned $100,000? 1. 25% 2. 30% 3. 42% 4. 34%

The curve that explains the distribution of wealth in a country is known as the _______ curve.