What will make a change in supply cause a small change in price?
What will be an ideal response?
A small change in supply and highly elastic supply and demand
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If the public debt increased by the same amount each year during the past three years, then
A) the U.S. government must have operated with the same budget surpluses during the past three years. B) the U.S. government must have experienced budget surpluses that increased by the same amount each of the past three years. C) the U.S. Treasury must have issued securities to fund a flow of government spending that exceeded a flow of tax revenues by the same amount during each of the past three years. D) during each of the past three years, the U.S. Treasury must have bought back the same amount of securities that had previously been issued to cover deficits experienced more than three years ago.
The net exports effect is the ____ relationship between net exports and the price level of an economy
a. inverse b. independent c. direct d. linear
Over the last half-century, which of the following countries has had the highest growth rate of output per capita?
A) Japan B) France C) United Kingdom D) United States
Compared to the 1950-1973 period, output per worker ________ in the 1974-1995 period.
A. increased more rapidly B. decreased more slowly C. increased more slowly D. decreased more rapidly