If the quantity supplied and the price change by the same percentage, then supply is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.
E) perfectly inelastic.
C
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Suppose consumers save 3 percent of their incomes. If the government collects 1 dollar in taxes from each taxpayer, private saving will ________ per taxpayer
A) decrease by 97 cents B) increase by $1 C) increase by 97 cents D) decrease by 3 cents
The aggregate expenditure (AE) curve
A) includes expenditures by domestic residents only. B) does not include expenditures on either imports or exports. C) includes expenditures on foreign as well as domestic goods. D) includes all expenditures on domestic goods. E) adds expenditures on imports because they are consumed in the nation and subtracts expenditures on exports because they are consumed abroad.
Any output combination inside a production possibilities frontier is associated with unused or underutilized resources
Indicate whether the statement is true or false
What reason do economists believe that megabanks are forming?
A) Megabanks enable economies of scale in information processing which allows them to better serve their customers. B) Megabanks create economies of scale which allow the banks to make riskier investment and increase profits. C) Megabanks can compensate for their economies of scale by diversifying into many countries. D) Megabanks allow investors more opportunities and have continued to grow by using their economies of scale to overwhelm their competition.