The demand for food will likely be price ________ while the demand for Brand X Burger will likely be price ________.
A. elastic; elastic
B. inelastic; inelastic
C. elastic; inelastic
D. inelastic; elastic
Answer: D
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Why does the short-run aggregate supply curve shift to the left in the long run, following an increase in aggregate demand?
A) Workers and firms adjust their expectations of wages and prices upward and they push for higher wages and prices. B) Workers and firms adjust their expectations of wages and prices upward and they accept lower wages and prices. C) Workers and firms adjust their expectations of wages and prices downward and they push for higher wages and prices. D) Workers and firms adjust their expectations of wages and prices downward and they accept lower wages and prices.
The federal government debt as a percentage of GDP did not rise
A) during the Great Depression. B) during World War II. C) during the 1960s. D) during the 1980s.
Why is the demand curve horizontal for a perfectly competitive firm?
What will be an ideal response?
The two reasons why bankruptcy is a false concern about the public debt are:
A. Government spending and taxation B. Refinancing and taxation C. Investment and refinancing D. Saving and investment