Unit elastic demand means that the
A) ratio of a change in the quantity demanded to a change in the price equals 1.
B) ratio of a percentage change in the quantity demanded to a percentage change in the price equals 1.
C) demand curve is vertical.
D) demand curve is horizontal.
B
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In 2007 the real interest rate in the United States was 2 percent. By 2013, the equilibrium real interest in the United States was ________ because the ________
A) 0.5 percent; United States experienced a deep recession as a result of a financial crisis in 2008-2009 B) 0.5 percent; United States began to recover from the deep recession and financial crisis of 2008-2009 C) 3.5 percent; United States began to recover from the deep recession and financial crisis of 2008-2009 D) 3.5 percent; United States experienced a deep recession as a result of a financial crisis in 2008-2009 E) not yet calculated; effects of the financial crisis of 2008-2009 have not yet been tallied The figure above shows the demand for loanable funds curve.
The free-rider problem faced by private information-collection firms results in their
A) usually going out of business within a few years. B) collecting less than all the available information about the firms they investigate. C) being plagued by lawsuits. D) charging fees higher than can be justified by market conditions.
If View Your World, a high-end window manufacturer, directly pays all of the transaction costs, the total cost to produce its windows includes all of the following except which one?
A) the cost of producing the windows B) the cost of transporting the inputs to make the windows to the plants C) the cost of transporting the product to its customers D) the cost to add another production plant
Francis Lowell's Boston Manufacturing Company:
a. specialized in the production of one type of cloth. b. combined all stages of cloth production in one plant. c. sold its product throughout the U.S. d. used power looms for weaving. e. All of the above.