While the slope of the perfectly inelastic supply curve ________, the slope of the perfectly elastic supply curve ________.
A. is zero; approaches infinity
B. approaches infinity; approaches infinity
C. is zero; is zero
D. approaches infinity; is zero
Answer: A
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Which of the following serve as automatic stabilizers?
a. Transfer payments b. Prices c. Imports d. All of the above serve as automatic stabilizers e. None of the above serve as automatic stabilizers
Which of the following is an example of a backward linkage?
a. A car industry creates a need for car dealerships. b. A compact disc industry creates a need for CD players. c. The development of a shoe industry creates a demand for a leather industry. d. An increase in the population increases the demand for food. e. New educational facilities improve the literacy rate of the population.
The demand curve for foreign exchange is
a. downward sloping. b. upward sloping. c. horizontal because no individual country can influence the price of foreign exchange. d. dependent on the supply of foreign exchange.
When the nominal exchange changes from 110 yen per dollar to 120 yen per dollar, the dollar has:
A. appreciated. B. depreciated. C. become undervalued. D. become overvalued.