Goods and services that can be produced by using commonly available resources that could be allocated to a wide variety of alternative tasks have a supply that is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly inelastic.
A
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The Medicaid program provides health insurance for the
A. elderly. B. poor. C. veterans of wars. D. disabled.
If the University Chamber Music Society decides to raise ticket prices to provide more funds to finance concerts, the Society is assuming that the demand for tickets is:
A. parallel to the horizontal axis. B. shifting to the left. C. inelastic. D. elastic.
One reason the government requires public corporations to disclose so much information is to:
A. discourage risk-taking by investors. B. address the potential harm from asymmetric information. C. minimize the monopoly profits some corporations earn. D. give small corporations a better chance of competing against large corporations.
Consider the following data for a firm over a period of time. The contribution of the firm to domestic output by the value-added method is:
A.
$5,000
B.
$40,000
C.
$45,000
D.
$50,000