Ceteris paribus, if a 4% increase in price leads to a 6% increase in the quantity supplied, then:
a. supply is elastic
b. supply is unit elastic.
c. supply is inelastic.
d. the supply curve is perfectly vertical.
a
You might also like to view...
In the wake of the failure of __________ in 1984, the FDIC announced the "too big to fail" policy
A) Mariners' Trust of Detroit B) Manufacturers Hanover Bank C) Silverado Savings-and-Loan D) Continental Illinois Bank
When a surplus exists in a market, sellers
a. raise price, which increases quantity demanded and decreases quantity supplied, until the surplus is eliminated. b. raise price, which decreases quantity demanded and increases quantity supplied, until the surplus is eliminated. c. lower price, which increases quantity demanded and decreases quantity supplied, until the surplus is eliminated. d. lower price, which decreases quantity demanded and increases quantity supplied, until the surplus is eliminated.
Refer to Exhibit 6-2. How many persons are not participating in the labor force in year 3?
a. 50 million b. 100 million c. 150 million d. 350 million e. 400 million
Which of the following tests can be used to check for cointegration between two series?
A. Wald test B. Breush-Pagan test C. White test D. Engle-Granger test