The demand curve shown in the figure above is ________ over the price range from $95 to $105 per unit
A) perfectly elastic
B) perfectly inelastic
C) unit elastic
D) elastic but not perfectly elastic
E) inelastic but not perfectly inelastic
D
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The study of the decisions of individual units in the economy is known as
A) macroeconomics. B) microeconomics. C) the study of incentives. D) ceteris paribus study.
A planned economy would require decisions on the basis of
a. input-output tables b. corporate profits c. cost-benefit analysis d. government decisions e. all of the above
To reach general equilibrium, the price level adjusts to shift the ________ until it intersects with the ________
A) IS curve; FE line and LM curve B) FE line; LM and IS curves C) LM curve; FE line and IS curve D) ND curve; FE line and NS curve
The price of leisure
A) is the same for everyone. B) depends on the number of hours worked. C) is measured as foregone earnings. D) is immeasurable.