Of the following, demand is likely to be the least elastic for
A) Ford automobiles.
B) Toyota automobiles.
C) compact disc players.
D) toothpicks.
D
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Assume perfect capital mobility and a fixed exchange rate system. Then, an increase in government spending would shift the
a. LM schedule to the left. b. BP schedule to the right. c. BP schedule to the left. d. IS schedule to the right.
The price elasticity of supply for the Hope Diamond is zero because there is only one. Therefore, the supply curve for the Hope Diamond is
A. perfectly inelastic. B. unit elastic. C. elastic. D. perfectly elastic.
Along the IS curve, which of the following markets are in equilibrium?
A) the money and forex markets B) the goods and forex markets C) the goods and money markets D) the goods, money, and forex markets
A decrease in the wage rate will change
A. the price the firm charges for the product, but it will not affect the demand for any of the inputs. B. the amount of labor employed, and it may also change the amount of other inputs employed. C. only the amount of labor hired. D. the firm's profit-maximizing level output, but not its usage of inputs.