Ceteris paribus, the longer the time period, the
A. Less elastic the demand for the good.
B. More unitary elastic the demand for the good.
C. More elastic the demand for the good.
D. Smaller the income elasticity for the good.
Answer: C
You might also like to view...
Goodyear benefitted when the Federal Reserve ________ in 2008. This Fed action would help increase demand for its tires, which allowed Goodyear to increase employment and increase prices
A) implemented a series of open market sales of Treasury bonds B) drove down interest rates C) increased the discount rate D) lowered the required reserve rate
Given the strict quantity theory of money, if the quantity of money doubled, prices would:
a. fall by half. b. double. c. remain constant. d. increase somewhat but less than double.
As the expected future exchange rate for dollars increases
A) the demand for U.S. dollars increases. B) the supply of U.S. dollars decreases. C) both the demand for U.S. dollars and the supply of U.S. dollars increase D) Both answers A and B are correct.
When there are external costs of production, such as when electric utilities burn coal, a competitive market will produce an inefficient level of output
Indicate whether the statement is true or false