A supply curve that is vertical
A) is perfectly inelastic. B) is impossible.
C) has an elasticity equal to 1. D) is perfectly elastic.
A
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During the Great Depression, real interest rates
A) rose to unprecedentedly high levels. B) rose only slightly above the long-run trend. C) fell to unprecedentedly low levels. D) fell only slightly below the long-run trend.
The Department of Justice guidelines suggest that the government not interfere with mergers that occur in industries with a Herfindahl-Hirschman Index that is
a. 0 b. 100 c. less than 1,000 d. more than 1,000 e. more than 1,800
Which of the following best exemplifies why countries engage in international trade?
a. Epic Oil coerced the small island nation Lilliput to open its coastal waters for exploration. b. Northland exchanged cherries and apples with Southland, which grew oranges and mangoes. c. King Leo believed he had a duty to share his country’s wealth with neighboring states. d. Lower Doldra had to trade with Belladonia, the country that conquered and colonized it.
"Default" occurs when?
A. bond issuers fail to make promised payments. B. corporations go bankrupt and stock becomes worthless. C. bond purchasers fail to pay full price for a bond. D. stocks are not federally insured.