In ________ markets, the elasticity of supply tends to be positive.
A. labor
B. input
C. all
D. output
Answer: D
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When the expected inflation rate increases, the demand for bonds ________, the supply of bonds ________, and the interest rate ________, everything else held constant
A) increases; increases; rises B) decreases; decreases; falls C) increases; decreases; falls D) decreases; increases; rises
A natural region over which a single currency dominates as a medium of exchange is called
A) sovereign nation. B) monetary union area. C) common currency area. D) currency union.
Which of the following would not cause a shift in the supply curve for a good?
a. An increase in demand for that good. b. An increase in the cost of labor used to produce that good. c. A change in the cost of raw materials used to produce that good. d. A decrease in the cost of machinery used to produce that good.
If the nominal rate of interest is 10.5 percent, and the inflation rate is 4.3 percent, what is the real rate of interest?
a. 3.0 percent b. 4.3 percent c. 6.2 percent d. 10.5 percent