Consider the demand curve below. If area 0ABC is smaller than area 0DEF, we may conclude that demand in this range is:
A. Price-inelastic
B. Income-inelastic
C. Price-elastic
D. Income-elastic
C. Price-elastic
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During the month of May, 10 million workers moved from being classified as "unemployed" to being classified as "employed." As a result,
A) the labor force participation rate fell. B) the labor force participation rate rose. C) the unemployment rate rose. D) the unemployment rate fell.
The bond markets are important because they are
A) easily the most widely followed financial markets in the United States. B) the markets where foreign exchange rates are determined. C) the markets where interest rates are determined. D) the markets where all borrowers get their funds.
The available data strongly suggest that, as the "needs" argument would suggest, the demand for health care is virtually perfectly inelastic
Indicate whether the statement is true or false
The decision to give the politically appointed members of the Federal Reserve Board an automatic majority weakened the power of the private sector in the determination of monetary policy
Indicate whether the statement is true or false