A firm that is a price taker faces
A) an elastic supply curve.
B) an inelastic supply curve.
C) a perfectly elastic demand curve.
D) a perfectly inelastic demand curve.
E) an elastic but not perfectly elastic demand curve.
C
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Over the last 50 years,
a. how has the labor force participation rate changed? b. how have the men's and women's labor force participation rates changed?
As a result of financial deregulation
A) the IS curve became flatter and the LM curve became steeper, with the result that the interest rate became more volatile. B) the IS curve became steeper and the LM curve became flatter, with the result that the interest rate became more volatile. C) both the IS curve and the LM curve became steeper, with the result that the interest rate became more volatile. D) both the IS curve and the LM curve became flatter, with the result that the interest rate became more volatile.
Ricardian equivalence suggests that government budget deficits generated by decreases in current taxes
A) increase the current account surplus. B) decrease the current account surplus. C) have no effect on the current account surplus. D) have unpredictable effects on the current account surplus.
The terms of trade for the American farmer during the last part of the 19th century
a. were made worse by political unrest. b. were caused by a decrease in the supply of agricultural products. c. could be enhanced by mechanization. d. worsened in part due to increased mechanization. e. Both c and d are correct.