All else equal, a smaller elasticity of the supply curve to the other firms leads to a ________ individual firm's residual elasticity of demand
A) less elastic
B) unit elastic
C) more elastic
D) zero
A
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The existence of a positive externality demonstrates that
a. prices are too low b. there are third party costs c. the source is costly to identify d. the value society derives from a good may be greater than the value the person who buys it receives e. benefits are included in price, but not quantity
A situation in which money buys the same amount of goods and services in different currencies is called
A) a fixed exchange rate. B) purchasing power parity. C) exchange rate surplus. D) exchange rate equilibrium. E) exchange rate balance.
Danielle Ocean pays for monthly pool maintenance for her home swimming pool. Last week the owner of the pool service informed Danielle that he will have to raise his monthly service fee because of increases in the price of pool chemicals
How is the market for pool maintenance services affected by this? A) There is a decrease in the demand for pool maintenance services. B) There is a decrease in the quantity of pool maintenance services supplied. C) There is an increase in the supply of pool maintenance services. D) There is a decrease in the supply of pool maintenance services.
_____________ sector savings only sometimes (and partially) adjust to offset government budget deficits and surpluses.
a. Foreign b. Corporate c. Public d. Private