Refer to the accompanying figure. At P = 8 and Q = 4, D1 is ________ elastic than D2, which is shown graphically as D1 being ________ D2.
A. less; flatter than
B. more; steeper than
C. less; steeper than
D. more; flatter than
Answer: C
You might also like to view...
The primary method that decision makers use to evaluate choices among competing alternatives is called
A) the competitive forces model. B) cost-benefit analysis. C) heads-or-tails analysis. D) absolute advantage.
Because of the owner's prejudice, a firm chooses to discriminate against hiring Oriental workers. Compared to an otherwise identical nondiscriminating firm hiring in the same competitive market, the discriminating firm will have
a. higher costs. b. lower profits. c. a lower quantity of labor supplied at every wage. d. All of the above are correct.
In 2010 a country had nominal GDP of 6 trillion euro and real GDP of 5 trillion euro. In 2011 it had nominal GDP of 6.5 trillion euro and real GDP of 5.2 trillion euro. What was its inflation rate in 2011? Show your work
All of the following are functions of the Federal Reserve System (the Fed) EXCEPT
A. check clearing. B. supplying currency. C. lender of last resort for consumers. D. regulation of the money supply.