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  Calculate the elasticity of demand. 1. 0.45 2. 0.55 3. 0.75 4. 0.85

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

If Mexico has a GDP growth rate of 10% and there GDP was $1 Trillion in 2016, when will there countries GDP go up to $2 trillion   2023 2027     2030     2032

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

There are three people in a country.  Here are the incomes of the three people. Person Income 1 $10,000 2 $100,000 3 $300,000 If each person had to pay $2,000 in taxes, what type of tax system would this be considered? (Hint: think of the percent of income each person will have to pay)   1. regressive 2. proportional 3. flat 4. progressive

Which of these would be considered to be the most inelastic in supply? 1. Online music      2. cups of coffee        3. physical books        4. rare minerals

What percent of income is going to the top 20% of earners? 1. 20% 2. 40% 3. 62% 4. 38%

If there is a shortage in a market                    1.  Quantity demanded is greater than the quantity supplied   2.  The demand curve has shifted to the right   3.  The price is too high in the market   4.  The supply of goods has shifted to the left.

  Pizza is a normal good if the demand for pizza rises when income rises. for pizza rises when the price of pizza falls. curve for pizza slopes upward. curve for pizza shifts to the right when the price of burritos rises, assuming pizza and burritos are substitutes. .

When goods are purchased together, they are considered to be ________. (one word answer)