Suppose that the value of the short-run absolute elasticity of demand for a good is 0.3. Then, we know the long-run absolute price elasticity of demand will be
A) 0.
B) greater than 0.3.
C) elastic.
D) less than 0.3.
B
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Spending VCU4 on real-world goods and services causes the nation's:
a. Demand for real goods and services to rise and monetary base to rise. b. Demand for real goods and services to remain the same and M2 money supply to rise. c. Demand for real goods and services to remain the same and M2 money multiplier to rise. d. Demand for real goods and services to rise and monetary base to remain the same.
An increase in the nonmonetary cost of purchasing a good
What will be an ideal response?
A profit-maximizing firm in a competitive market will continue to hire more workers when
A) the marginal factor cost exceeds the marginal revenue product of the additional workers. B) the marginal factor cost equals the marginal revenue product of the additional workers. C) the marginal factor cost is less than the marginal revenue product of the additional workers. D) the marginal factor cost is less than zero.
All of the following are part of the "state health insurance marketplaces" provision of the Patient Protection and Affordable Care Act (ACA) except
A) each state is required to establish an Affordable Insurance Exchange. B) small businesses with fewer than 50 employees are exempt from being required to participate in the program. C) low-income individuals are eligible for tax credits to offset the costs of buying health insurance. D) the marketplaces offer health insurance policies that meet certain specified requirements.