While the slope of the perfectly inelastic supply curve ________, the slope of the perfectly elastic supply curve ________
A) is zero, approaches infinity
B) approaches infinity, is zero
C) is zero, is zero
D) approaches infinity, approaches infinity
Answer: A
You might also like to view...
All else equal, if job turnover has people leaving jobs and finding new jobs in the same industry, this will
A) decrease the supply of labor, but not change the demand for labor. B) increase the demand for labor and the supply of labor. C) increase the demand for labor and decrease the supply of labor. D) not change demand or supply in the labor market.
If expected inflation is constant, then when the nominal interest rate increases, the real interest rate
a. increases by more than the change in the nominal interest rate. b. increases by the change in the nominal interest rate. c. decreases by the change in the nominal interest rate. d. decreases by more than the change in the nominal interest rate.
One characteristic of an efficient tax system is that it minimizes the costs associated with revenue collection
a. True b. False Indicate whether the statement is true or false
Under a fixed exchange rate regime, what will happen to the balance of payments for the United States and Mexico when the demand for Mexican goods rises? What is the only possible solution to this problem, given the fixed exchange rate?
What will be an ideal response?