If the quantity of a good supplied is not very sensitive to the price of the good, this is illustrated by a
a. demand curve that is relatively flat (more horizontal).
b. demand curve that is relatively steep (more vertical).
c. supply curve that is relatively flat (more horizontal).
d. supply curve that is relatively steep (more vertical).
D
You might also like to view...
The securities, such as stocks or bonds, constitutes a(n) ________ for the borrowers and a (n) ________ for the saver
A) asset; liability B) asset; debt C) liability; asset D) debt or an asset; liability or an asset
Six possibilities are equally likely and have payoffs of $2, $4, $6, $8, $10, and $12 . The expected value is:
a. $4 b. $5 c. $6 d. $7
The Lorenz curve shows the distribution of
A. wealth. B. income. C. poverty. D. jobs.
Which of the following is one possible explanation for the change in the natural rate of unemployment in the United States during the 1970s?
A) contractionary fiscal policy B) an increase in the proportion of labor contracts that were indexed C) contractionary monetary policy D) all of the above E) none of the above