A demand curve that is completely elastic is
A. Downward-sloping.
B. Horizontal.
C. Vertical.
D. Upward-sloping.
Answer: B
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At the optimal level of public goods provision, society's total willingness to pay per unit is equal to the marginal cost of producing the good.
Answer the following statement true (T) or false (F)
Which of the following is likely to decrease the supply of U.S. dollars in the forex market?
A. If foreign interest rates are low relative to U.S. interest rates B. If investors' confidence in foreign economies increases C. If U.S. consumers prefer foreign goods to U.S. goods D. All of these will increase the supply of U.S. dollars.
If the marginal rate of substitution between tea and sugar is constant, then tea and sugar can be considered _____
a. perfect complements b. perfect substitutes c. merit goods d. inferior goods