The speculative demand curve for money is
a. downward sloping
b. upward sloping
c. vertical
d. horizontal
e. U-shaped
A
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Assuming that the demand curve for cookies is downward sloping, if the price of cookies falls from $1.50 to $1.25 per dozen,
A. then the demand for cookies will fall. B. then the demand for cookies will rise. C. then a larger quantity of cookies will be demanded. D. then a smaller quantity of cookies will be demanded.
Hyperinflation refers to an inflation rate which exceeds 5 percent per month
Indicate whether the statement is true or false
From the neoclassical view, physical capital per person refers to the amount and kind of:
a. machinery and equipment available to help people get work done. b. processes and money available to help people get work done. c. equipment and labor available to help people get work done. d. labor and equipment available to help people get work done.
Relative to a mobile factor of production, economic theory suggests that the price elasticity of supply for a highly immobile factor of production (for example, land) will be
a. more elastic. b. less elastic. c. of unitary elasticity. d. this is a trick question; the price elasticity of supply for factors of production is not affected by factor mobility.