The demand for potatoes at current prices is likely to be
A. elastic.
B. inelastic.
C. unit elastic.
D. perfectly elastic.
Answer: B
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If the realized real interest rate in an economy is 6%, the realized inflation rate is 8%, and the expected inflation rate is 8%, then the nominal interest rate in the economy is:
A) 2%. B) 8%. C) 20%. D) 14%.
Anthony's Accountants is the only employer of accountants in the island of Fairisle. The table gives the demand and supply of accountants on Fairisle. The marginal cost of hiring a sixth accountant is ________ an hour
A) $20 B) $15 C) $25 D) $45
A natural monopoly occurs when the? long-run average cost curve lies entirely above the demand curve of the typical firm in a? two-firm market.
A natural monopoly occurs when the? long-run average cost curve lies entirely
the demand curve of the typical firm in a? two-firm market.
According to the text, there are three ways the government can help increase the accumulation of knowledge capital. What are they?
A) encouraging the use of trade secrets, expanding student loan programs, and increasing the minimum wage B) reducing taxes on capital, increasing Social Security payments, and lowering the exchange rate C) increasing taxes on firms, eliminating patents, and increasing the minimum wage D) protecting intellectual property rights, subsidizing research and development, and subsidizing education