When numerous but imperfect substitutes exist for a good, the demand for the good will tend to be

A) inelastic.
B) elastic.
C) unitary.
D) perfectly elastic.


B

Economics

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Everything else held constant, an increase in the interest rate paid on checkable deposits will cause ________ in the amount of checkable deposits held relative to currency holdings and ________ in the currency ratio

A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease

Economics

If a firm is a price taker, then the demand curve faced by the firm is perfectly elastic

a. True b. False Indicate whether the statement is true or false

Economics

Cyclical unemployment depends on a country's historical and cultural heritage

a. True b. False Indicate whether the statement is true or false

Economics

Which of the following is not an example of rent seeking?

A. A firm uses resources to convince a legislature to direct subsidies toward the firm. B. A mastermind hires a crew to tunnel into a bank vault. C. A person listens to an outdoor concert without paying. D. A window salesman throws bricks through perfectly fine windows.

Economics