In pure competition, the industry demand curve is infinitely price elastic.
Answer the following statement true (T) or false (F)
False
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When a model takes into account the fact that several different generations may coexist simultaneously, this is known as a(n)
A. neoclassical model. B. life-cycle model. C. overlapping generation model. D. crowding-out model.
In international trade, an infant industry is one:
a. that protects firms that produce products for infants. b. with a large number of very small firms. c. in which the firms are experiencing very small profits. d. in the early stages of its development.
If interest rates rise in the United States, what effect does this have on the value of the U.S. dollar?
What will be an ideal response?
A decrease in the interest rate, other things being equal, causes
a. an upward movement along the demand curve for money. b. a downward movement along the demand curve for money. c. a rightward shift of the demand curve for money. d. a leftward shift of the demand curve for money.