The horizontal demand curve facing an individual firm in a perfectly competitive market:
a. violates the law of demand, which states that demand curves slope downward.
b. is a reflection of the firm's small size relative to the total market
c. is maintained only with the help of high barriers to entry.
d. is a reflection of the inelastic demand for its product.
b
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
When the economy is in long-run equilibrium, the price level adjusts so as to equate which two values with one another?
A) total planned real expenditures and total planned production B) government spending and tax revenues C) the inflation rate and the unemployment rate D) import and export spending
Elaborate on the statement "Every multiple regression analysis is influenced by the sample of the data used."
What will be an ideal response?
If there are only a few producers of substitutes for Good X, a merger between producers of Good X and any one of them could significantly _____ for Good X
a. decrease the elasticity of demand. b. increase the elasticity of supply. c. decrease the elasticity of supply. d. increase the elasticity of demand.