The total supply of land is:
A. upsloping.
B. perfectly elastic.
C. perfectly inelastic.
D. greater in the short run than in the long run.
Answer: C
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For people who live near a bus route, a subway station, or a commuter rail line, public transportation provides a substitute to driving their own cars
So, for these people, the cross-price elasticity of demand between gasoline and public transportation is A) zero. B) positive. C) negative. D) infinity.
As the price elasticities of supply and demand increase, the deadweight loss from a tax increases
a. True b. False Indicate whether the statement is true or false
Which of the following is not a leading indicator for economic activity?
A. Orders for new equipment. B. Natural disasters. C. The level of inventories. D. Building permits.
The federal funds rate is a
A. 1-day rate. B. 30-day rate. C. 3-month rate. D. 2-year rate.