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
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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
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
Cyclical unemployment depends on a country's historical and cultural heritage
a. True b. False Indicate whether the statement is true or false
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.