Refer to the graph shown. Which point has an elasticity less than 1?
A. A
B. B
C. C
D. D
Answer: D
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Farmers selling some of their soybeans in storage because they anticipate a lower price of soybeans in the near future would cause a
A. movement up along the current supply curve of soybeans. B. rightward shift in the current supply of soybeans. C. movement down along the current supply curve of soybeans. D. leftward shift in the current supply of soybeans.
Concerns about the bankruptcy of an appliance manufacturer diminish after a new CEO is appointed and some of the company's less productive factories are sold. What type of risk for bondholders falls? What happens to the interest rate on this company's bonds?
In general, the percentage of appreciation of one nation's currency is equal to:
a. its rate of growth of real GDP. b. its purchasing power. c. its population growth. d. the percentage of depreciation of the foreign nation's currency.
A contractionary fiscal policy can be illustrated by a(n):
A. decrease in aggregate demand. B. increase in aggregate demand. C. change in the price level. D. increase in aggregate supply.