The slope of the perfectly inelastic demand curve is ________, the slope of the perfectly elastic demand curve is ________.
A. one, zero
B. zero, undefined
C. undefined, zero
D. one, one
Answer: C
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The Agricultural Adjustment Act, passed in 1933, was an effort to
a. keep agricultural prices high by increasing supply. b. keep agricultural prices low by increasing supply. c. keep agricultural prices high by decreasing supply. d. keep agricultural prices low by decreasing supply.
Which factor of production includes crude oil deposits?
A. physical capital B. land C. human capital D. entrepreneurship
If, at some level of output, total planned real expenditures are greater than real Gross Domestic Product (GDP)
A. real GDP will either fall or remain unchanged, depending on the MPC. B. real GDP will fall. C. real GDP remains unchanged. D. unplanned inventories will decrease.
A player chooses a maximin strategy to ________ gain the player can earn.
A. maximize the maximum B. minimize the maximum C. maximize the minimum D. minimize the minimum