A perfectly elastic supply curve is:
a. upward sloping to the right
b. downward sloping to the left.
c. horizontal.
d. vertical.
c
You might also like to view...
If a bank has a lot of long-term loans, it will probably want to reduce interest rate risk by encouraging __________-term deposits, especially of interest rates are expected to __________ in the future
A) long; rise B) long; fall C) short; rise D) short; fall
A drop in consumption or investment spending caused by increased government spending is referred to as:
a. the multiplier effect. b. an expansionary gap. c. Ricardian equivalence. d. the paradox of thrift. e. crowding out.
Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or 4 apples an hour. What are the opportunity costs of producing 1 orange for Alpha and Beta, respectively?
a. 0.25 apples; 0.5 apples b. 9 apples; 4 apples c. 0.5 apples; 0.25 apples d. 2 apples; 4 apples
The ability of a firm to maintain a price above the competitive level without losing all its customers to rival firms is termed as ________
a. competition b. marginal cost pricing c. allocative efficiency d. market power