Supply will become more elastic when
A) a time period lengthens.
B) the time period shortens.
C) the good is important to consumers.
D) there are good substitutes for the goods.
A
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The quantity of labor demanded definitely increases if the
A) supply of labor decreases. B) real wage rate falls. C) nominal wage rate rises. D) real wage rate rises. E) nominal wage rate falls.
Suppose the price levels in an economy in four successive years are 100, 120, 133, and 140 . Which of the following is true in such a case? a. The economy is experiencing hyperinflation
b. The economy is experiencing deflation. c. The economy is experiencing inflation. d. The economy is experiencing increasing inflation. e. The economy is experiencing disinflation.
Firms that place their assets in the custody of a board of trustees is called a(n):
A. utility. B. oligopoly. C. trust. D. cartel.
At each price level, the aggregate demand curve indicates
A. the total amount of real Gross Domestic Product (GDP) that will be produced. B. the nominal Gross Domestic Product (GDP) that will be produced. C. the nominal value of total production of goods and services domestic income that will be produced. D. the total amount of real planned expenditures.