If supply is perfectly elastic, the supply curve is
a. vertical
b. horizontal
c. any straight-line supply curve
d. any supply curve intersecting a perfectly elastic demand curve
e. any supply curve intersecting a demand curve which is unit elastic
B
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The American economy is ________ economy in the world today.
A. the largest and the fastest growing B. neither the largest nor the fastest growing C. the largest, but not the fastest growing D. the fastest growing, but not the largest
The ratio of the dollar price of a toy in the U.S. to the dollar price of a toy in China represents the ________ between the two currencies
A) nominal exchange rate B) ordinal exchange rate C) expected exchange rate D) real exchange rate
What is full employment? What are the different kinds of unemployment? What constitutes the natural (normal) rate of unemployment?
The demand curve of a monopolistically competitive producer is:
A. less elastic than that of either a pure monopolist or a pure competitor. B. less elastic than that of a pure monopolist, but more elastic than that of a pure competitor. C. more elastic than that of a pure monopolist, but less elastic than that of a pure competitor. D. more elastic than that of either a pure monopolist or a pure competitor.