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.
Answer: A
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In 2012, Country X and Country Y had the same production possibilities, illustrated in the figure above. Country X chose to produce at point A, while country Y chose to produce at point B
In 2018, most likely, Country X will be at point such as ________ while Country Y will be at point such as ________. A) A; B B) B; A C) N; Q D) Q; N
The highest-income fifth of the U.S. population earns more than 50 percent of all income.
Answer the following statement true (T) or false (F)
How many members belong to the board of directors for each of the Reserve Banks of the Fed?
A. Fourteen B. Seven C. Twelve D. Nine
Regarding the role of saving in economic growth, studies indicate that
A. there is a negative relationship between economic growth and saving. B. there is both a positive and a negative relationship between economic growth and saving. C. there is a positive relationship between economic growth and saving. D. there is no relationship between economic growth and saving.