A good is said to have an elastic supply if its price elasticity of supply is:
A) equal to zero.
B) between zero and one.
C) equal to one.
D) greater than one.
D
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If injections are greater than withdrawals:
a) National income is likely to increase b) National income is likely todecrease c) National income will stay in equilibrium d) Prices will fall
When the Federal Reserve sells bonds as a part of a contractionary monetary? policy, there? is:
A. A decrease in the money supply and a decrease in interest rate B. A decrease in the money supply and an increase in interest rate C. An increase in the money supply and a decrease in interest rate
Refer to the graph shown. Which supply curve is inelastic?
A. A B. B C. C D. None of the answers is correct.
Monopolistically competitive firms must produce where there is an optimal allocation of resources because the firms do not present significant barriers to entry to potential competitors.
Answer the following statement true (T) or false (F)