Other things remaining unchanged, the longer the time period under consideration, the greater will be the price elasticity of demand
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In the absence of discrimination, as human capital investments increase, wages will generally
A) decrease. B) increase. C) not change. D) increase or decrease.
If a U.S. citizen buys a car produced in Germany, this transaction will add to
a. U.S. aggregate demand. b. U.S. aggregate supply. c. German aggregate demand. d. German imports.
Waybelow Normal University has found it necessary to institute a crime-control program on its campus to deal with the high costs of theft and vandalism. The university is now considering several alternative levels of crime control. This table shows the expected annual costs and benefits of these alternatives. Total Costs Per YearTotal Benefits Per Year (Reduction in the Costs of Crime)Level One - 1 Security Officer$20,000$80,000Level Two - 1 Security Officer with Guard Dog30,000120,000Level Three - 1 Security Officer with Guard Dog and Patrol Car40,000140,000Level Four - 2 Security Officers with Guard Dog50,000155,000Level Five - 2 Security Officers with Guard Dog and Patrol car60,000160,000Refer to the above information. Based on cost-benefit analysis, Waybelow should undertake:
A. Level Two. B. Level Three. C. Level Four. D. Level Five.
A fall in a foreign country's income will most likely cause:
A. an increase in U.S. exports, so the U.S. aggregate demand curve shifts left. B. a reduction in U.S. exports, so the U.S. aggregate demand curve shifts right. C. a reduction in U.S. exports, so the U.S. aggregate demand curve shifts left. D. an increase in U.S. exports, so the U.S. aggregate demand curve shifts right.