Based on the information above, video games have
a. A unit elastic demand curve
b. A inelastic demand curve
c. A elastic demand curve
d. A perfectly elastic demand curve
c
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Refer to Table 14-3. Is there a dominant strategy for Saudi Arabia and, if so, what is it?
A) Yes, the dominant strategy is to produce a low output. B) Yes, it has a dominant strategy depending on what Nigeria does. C) Yes, the dominant strategy is to produce a high output. D) No, there is no dominant strategy.
If the price of airline travel in Europe falls and the demand for train travel in Europe also falls, then the two goods are
A) complements. B) normal goods. C) substitutes. D) inferior goods.
Marge is lending Martin $1,000 for one year. The CPI is 1.60 at the time the loan is made. They expect it to be 1.76 in one year. If Marge and Martin agree that Marge should earn a 3 percent real return for the year, the nominal interest rate on this loan should be ________ percent.
A. 13 B. 7 C. 16 D. 3
The law of demand is illustrated by a demand curve that is:
a. Vertical b. Downward sloping c. Horizontal d. Upward sloping