Any change in price along a perfectly inelastic demand curve produces:
A. greater change in the quantity demanded.
B. less change in the quantity demanded.
C. no change in the quantity demanded.
D. infinite change in the quantity demanded.
Answer: C
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In a ________ banking system, commercial banks engage in securities underwriting, but legal subsidiaries conduct the different activities. Also, banking and insurance are not typically undertaken together in this system
A) universal B) British-style universal C) short-fence D) compartmentalized
Sam has no job but keeps applying to get a job with a business that is unionized. He is qualified and he finds the pay attractive, but the firm is not hiring. Sam is
a. structurally unemployed. Structural unemployment exists even in the long run. b. structurally unemployed. Structural unemployment does not exist in the long run. c. frictionally unemployed. Frictional unemployment exists even in the long run. d. frictionally unemployed. Frictional unemployment does not exist in the long run.
At the current price there is a shortage of a product. We would expect price to:
A. increase, quantity demanded to increase, and quantity supplied to decrease. B. decrease, quantity demanded to increase, and quantity supplied to decrease. C. increase, quantity demanded to decrease, and quantity supplied to increase. D. increase, quantity demanded to increase, and quantity supplied to increase.
When firms hold excess capital, the value of the multiplier decreases.
Answer the following statement true (T) or false (F)