Grape juice prices increased by 20 percent in 2007. Suppose in response grape growers did not increase or decrease their grape production. The elasticity of supply is best described as
A) perfectly inelastic.
B) perfectly elastic.
C) inelastic.
D) elastic.
A
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Bonds can be risky investments because
a. bondholders are paid from whatever remains after stockholders have been paid what the corporation owes them. b. if the corporation loses its assets, the bondholders may never recover their investments. c. the general price level may fall. d. the voting power of an individual bondholder may be more apparent than real.
In an analysis of an excise tax on soda, which of the following is an exogenous variable?
a. The price received by sellers. b. The price paid by buyers. c. The quantity exchanged in the market. d. The tax.
The New Deal
A. may be summarized by these words: relief, recovery, and reform. B. introduced Medicare and Medicaid. C. succeeded in quickly extending the Great Depression. D. reduced the economic role of the federal government.
Suppose you withdraw $1,000 in cash from your checking account. Draw a T-account to show the effect of this transaction on your bank's balance sheet
What will be an ideal response?