The short-run price elasticity of demand for refrigerators is relatively inelastic
Indicate whether the statement is true or false
False. People can put off buying a refrigerator in the short run. Therefore demand is elastic in the short run.
You might also like to view...
In the open-economy macroeconomic model, if foreign interest rates rise and the U.S interest rate stays the same then, U.S
a. net capital outflow rises, so the supply of dollars in the market for foreign exchange shifts right. b. net capital outflow rises, so the demand for dollars in the market for foreign exchange shifts right. c. net capital outflow falls, so the supply of dollars in the market for foreign exchange shifts left. d. net capital outflow falls, so the demand for dollars in the market for foreign exchange shifts left.
If demand decreases and supply is unchanged, then the equilibrium price ____ and the equilibrium quantity ____. Question 9 options:
A. does not change; does not change B. rises; decreases C. falls; decreases D. falls; increases E. rises; increases
A bond with a par value of $1,000 is traded at $1,500 . The coupon rate offered on the bond is 10 percent.The bond matures after a period of 5 years . The coupon paid to the bond holder after the end of the first year is:
a. $150. b. $100. c. $200. d. $50. e. $250
When economic profit is zero, producers do not have any incentive to deviate from the current line of production
a. True b. False Indicate whether the statement is true or false