Determinants of the price elasticity of supply are:
A. availability of inputs, adjustment time.
B. flexibility of the production process, whether the good is a luxury or a necessity.
C. availability of inputs, whether the good is a luxury or a necessity.
D. adjustment time, whether the good is a luxury or a necessity.
Answer: A
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What are the main influences on the quantity of real money that people and businesses plan to hold?
What will be an ideal response?
Which of the following best illustrates the concept of derived demand?
a. A decrease in the price of glass causes the demand for plastic to decrease. b. An increase in the demand for bread leads to an increase in the demand for flour. c. A decrease in the price of air travel leads to an increase in the quantity demanded of air travel. d. An increase in the demand for peanut butter leads to an increase in the demand for jelly.
The yield curve is the relationship between the:
a. Domestic yield and foreign yield. b. Real yield (i.e., interest rate) and actual inflation. c. Nominal yield and time to maturity of a security. d. Nominal yield on corporate securities and the yield of government securities. e. Nominal yield and real yield of a security.
The information contained in the table illustrates:
A. political logrolling.
B. the median-voter model.
C. the paradox of voting.
D. the principal-agent problem theorem.