The supply curve for housing in the very short run is likely to be
A) very elastic.
B) very inelastic.
C) unit-elastic elastic.
D) perfectly elastic.
Answer: B
You might also like to view...
The East Asian model's approach to interest rates has been
a. to keep interest rates well below market levels b. to keep interest rates above market levels c. to allow the market to determine interest rates d. to allocate investment funds entirely through government, and not charge any interest e. none of the above
There is a specific relationship between the price of a bond and its yield. Which of the following describes that relationship?
a. If the price falls, the yield stays the same, but if the price rises, the yield rises. b. As the price falls, the yield falls. c. If the price rises, the yield stays the same, but if the price falls, the yield falls. d. As the price rises, the yield rises. e. As the price rises, the yield falls.
Which of the following statements is true?
A. The United States today comes closer to the socialist form of economic organization than it does capitalism. B. When central planners set prices above equilibrium for goods and services they create shortages. C. According to Karl Marx, under capitalism, workers would be exploited and would revolt against the owners of capital. D. Adam Smith argued that government's role in society would be to do absolutely nothing.
Distinguish between a voluntary export restraint and a quota
What will be an ideal response?