The price elasticity of supply of a good measures how much a change in price of the good will change its quantity supplied
a. True
b. False
Indicate whether the statement is true or false
True
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The index of leading economic indicators usually turns downward: a. prior to economic expansions
b. prior to economic contractions. c. prior to a contraction, but then turns upward before the contraction begins. d. a full 24 months before a recession begins.
Which of the following statements is correct?
a. In the long run, both perfectly competitive firms and monopolistically competitive firms operate with excess capacity. b. A firm operates with excess capacity when, in the long run, its level of output is below the efficient scale. c. For any firm, efficient scale is the level of output at which the average-total-cost curve is tangent to the demand curve. d. All of the above are correct.
Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.
A. $30; 15 B. $25; 5 C. $25; 20 D. $35; 20
Which of the following financial assets is most likely to have a higher amount of risk than the others?
A. Stocks B. Mutual funds C. Savings accounts D. Bonds