Refer to the above figure. Demand is
A. perfectly elastic.
B. unitary elastic.
C. perfectly inelastic.
D. undetermined without more information.
Answer: A
You might also like to view...
________ are a form of regional integration where member countries lower internal trade barriers and establish a common barrier against nonmembers
A) Customs unions B) Free trade areas C) Reciprocal trade agreements D) None of the above.
If the firm’s marginal physical product is 8, and its handicrafts sell for $70, when a unit of labor costs $150, the firm is operating
A. short of an optimal input point. B. at the optimum input point. C. beyond the optimum input point. D. There isn’t enough information to determine if the input point is optimal.
If DI falls by $100 billion, and C falls by $90 billion, the slope of the consumption is
a. ?0.45. b. 0.45. c. ?0.90. d. 0.90. e. 0.50.
The unemployment rate in the United States:
A. never falls to zero. B. falls to zero during expansions. C. equals zero during booms. D. can be zero in both expansions and recessions.