If a small change in price will lead to an infinite change in the quantity demanded, then the demand curve is:
a. horizontal.
b. vertical
c. inclined.
d. non-linear.
a
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Economic growth is represented by a: a. leftward shift of a production possibilities curve
b. rightward shift of the long-run aggregate supply curve (LRAS). c. horizontal long-run aggregate supply curve (LRAS). d. downward shift of an aggregate production function.
The players in a two-person game are choosing between Strategy X and Strategy Y. If the second player chooses Strategy X, the first player's best outcome is also to select X. If the second player chooses Strategy Y, the first player's best outcome is to select X. For the first player, Strategy X is called a
a. dominant strategy b. collusive strategy c. tit-for-tat strategy d. repeated-trial strategy e. tacit strategy
If people did not deposit their money in banks, banks would
a. not be affected because banks do not rely on deposits to make loans b. have unused excess reserves that earn them no interest c. be able to expand the money supply by more than the money multiplier indicates d. disappear because they would have no deposits and could make no loans e. not be able to find new borrowers thus restricting their banking activity
Higher rates of investment spending contribute most to higher levels of
a. political progress. b. consumption spending. c. technological progress. d. government development.