A capital-intensive production process is one that
A. Has a high ratio of capital to labor.
B. Has a high ratio of labor to capital.
C. Is used only in the United States.
D. All of the choices are correct.
Answer: A
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The principal buyers in financial markets are ________
A) financial intermediaries B) nonfinancial businesses C) commercial banks D) individual savers
The absolute price elasticity of demand would be the lowest for
A) automobiles. B) Pizza Hut pizza. C) salt. D) movie tickets.
Which of the following is true about U.S. history prior to the 1950s?
a. The inflation rate remained constant during this period b. Cost-push inflation led to depressions, which were followed by slowly-rising price levels. c. The price level remained constant during this period. d. Major wars resulted in high inflation rates, after which the inflation rate tapered off. e. Major wars resulted in high inflation rates that were usually followed by deflation.
The long-run aggregate supply curve would shift left if the amount of labor available
a. increased or Congress made a substantial increase in the minimum wage. b. decreased or Congress abolished the minimum wage. c. increased or Congress abolished the minimum wage. d. decreased or Congress made a substantial increase in the minimum wage.