A perfectly price inelastic supply curve is:
a. horizontal.
b. nonlinear and upward sloping.
c. vertical.
d. a straight line from the origin.
c
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Unemployment is a ________ concept, measuring the ________
A) stock; number of people who are not working B) stock; number of people at a point in time who are not working but who are looking for work C) flow; number of people who are first entering the labor force D) flow; number of people who lost their jobs within the last week
The addition to total output resulting from using one more unit of a productive resource is the
a. average product. b. marginal input. c. total product. d. marginal product.
If the inputs to a production process are perfect complements, the firm can choose from a virtually infinite array of combinations of the two inputs to minimize the costs of producing a given level of output
Indicate whether the statement is true or false
The major factor contributing to the depreciation of the dollar in 2007-2008 was:
A) higher U.S. interest rates resulting in lower capital outflows. B) lower U.S. interest rates resulting in higher capital outflows. C) higher U.S. interest rates resulting in higher capital outflows. D) lower U.S. interest rates resulting in lower capital outflows.