Which of the following are characteristics of a linear demand curve?
A. It has a constant slope.
B. It has a constant elasticity of demand.
C. The upper half of the liner demand curve is inelastic.
D. All of these
Answer: A
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The sale of western land after 1790 was steady and strong
Indicate whether the statement is true or false
If a worker responds to an increase in the opportunity cost of leisure by taking more leisure, then her labor supply curve is
a. upward sloping. b. backward sloping. c. horizontal. d. vertical.
In Figure 9.6, if full employment occurs at QC, then aggregate demand is
A. Too small, causing cyclical unemployment. B. Too small, causing demand-pull inflation. C. Too great, causing cyclical unemployment. D. Just right.
The relative amounts of the goods that will be exchanged for each other in trade refers to the nations':
A. absolute advantages. B. terms of trade. C. production possibilities. D. autarky status.