Refer to the graph shown. Which point has an elasticity greater than 1?
A. E
B. B
C. C
D. D
Answer: B
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________ in the foreign interest rate causes the demand for domestic assets to shift to the ________ and the domestic currency to appreciate, everything else held constant
A) An increase; right B) An increase; left C) A decrease; right D) A decrease; left
For low wages, the leisure demand curve slopes ______; for higher wages it slopes ______.
A. upward; downward B. downward; upward C. downward; downward D. upward; upward
In the following graph, the price of capital is $100 per unit; the price of labor is $25 per unit. How much does the seventh unit of output add to total cost?
A. nothing B. $400 C. $800 D. $4,000 E. $8,000
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.