Cynthia is an Oklahoma wheat farmer. The demand for her wheat is
A) perfectly inelastic.
B) inelastic but not perfectly inelastic.
C) elastic but not perfectly elastic.
D) perfectly elastic.
E) unit elastic.
D
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The Federal Reserve Bank was first established in the U.S. by an Act of Congress passed in
A) 1947. B) 1913. C) 1861. D) 1789.
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
The maximum number of dresses that Becky can make in a day is represented by point:
A. V B. W C. T D. U
Which of the following is an equilibrium condition for the goods market in the short-run? # randomize
A. measured savings equal measured investment B. Desired savings equal desired investment C. Money demand equals money supply D. Consumption equals savings
With specialization
A) opportunity costs tend to be constant. B) there are greater gains in material well being. C) there is more emphasis on self-reliance. D) society is more productive while individuals are less productive.