A perfectly elastic long-run supply curve indicates
A) a decreasing-cost industry.
B) a constant-cost industry.
C) an increasing-cost industry.
D) that some input prices change as firms enter and exit the industry.
Answer: B
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In the last 30 years, the number of poor people in the United States in households headed by women has
a. been constant b. increased slightly c. increased dramatically d. decreased slightly e. decreased by half
Saving is like:
A. selling the right to use your money for a time. B. buying the right to use someone else's money. C. buying the right to use your money for a time. D. selling the right to use someone else's money.
Among the advantages of the ________ technique of forecasting are ease of calculation, relatively little requirement for analytical skills, and the ability to provide the analyst with information regarding the statistical significance of results and
the size of statistical errors. A) least-squares trend analysis B) compound growth rate C) visual trend-fitting D) expert opinion
Suppose that the price of cornflakes is $3 per box and the price of oatmeal is $4.50 per box. Both boxes contain the same number of ounces of cereal. The relative price of cornflakes in terms of oatmeal is
A) 0.67. B) 1.0. C) 0.75. D) 1.50.