If a 1 percent decrease in the price of a pound of oranges results in a smaller percentage decrease in the quantity supplied
A) demand is elastic.
B) demand is inelastic.
C) supply is elastic.
D) supply is inelastic.
D
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The quantity theory of money implies that:
A) inflation is equal to the gap between the growth rate of money supply and the current real interest rates. B) inflation is equal to the gap between the growth rate of money supply and the growth rate of nominal GDP. C) inflation is equal to the gap between the growth rate of money supply and the current nominal interest rates. D) inflation is equal to the gap between the growth rate of money supply and the growth rate of real GDP.
The careful historian, in studying an institution like slavery and in striving for objectivity, will give special attention to all of the following except
(a) Those processes which recur over time and which continually motivated the institution (b) A theory which provides understanding of the cause-and-effect relationships involved (c) The background conditions of the period (d) All of the above statements must be given special attention
The only mineral that was available in any significant quantity in colonial America was:
a. Gold. b. Silver. c. Iron. d. Coal.
Network model HMOs use _______ to shift financial risk back onto providers
a. capitation. b. practice guidelines. c. open panels. d. closed panels. e. formularies.