Elasticity of demand and elasticity of supply for apartments is greatest in
A. rural areas.
B. the short run.
C. the long run.
D. the intermediate period.
Answer: C
You might also like to view...
The labor supply curve reflects how
a. workers' decisions about the labor-leisure tradeoff respond to a change in the wage. b. workers' decisions about the opportunity cost of labor respond to a change in the quantity of labor supplied. c. firms' decisions about the labor-leisure tradeoff respond to the quantity of labor demanded. d. firms' decisions about how the quantity of labor they hire respond to changes in their opportunities to earn profits.
When a tax on a good starts small and is gradually increased, tax revenue will
a. rise b. fall c. first rise and then fall d. first fall and then rise e. do none of the above
Which of the following could be considered a goal of policy to address poverty and inequality?
A. Redistribution B. Economic development C. Safety nets D. All of these are goals of policy to address poverty and inequality.
Suppose the federal funds rate is 5 percent. If the Fed decides to decrease the target for the federal funds rate from 5 percent to 4 percent, it could take:
A. a defensive action and raise reserve requirements. B. an offensive action and reduce reserve requirements. C. an offensive action and raise reserve requirements. D. a defensive action and reduce reserve requirements.