The price elasticity of supply measures the responsiveness of quantity supplied to a change in ____________.
a. quantity demanded.
b. demand
c. price.
d. supply.
c. price.
You might also like to view...
Which of the following is true?
A) Opportunity costs are the same as explicit costs. B) A firm's net income is the same as its accounting profit. C) If a firm's accounting profits are positive, its economic profits must also be positive. D) A firm's accounting profit is equal to its economic profit.
The Fed accidentally discovered open market operations when
A) it came to the rescue of failing banks in the early 1930s, and found that its purchases of bank loans injected reserves into the banking system. B) it purchased securities for income following the 1920-1921 recession. C) it attempted to slow inflation in 1919 by selling securities and found that its sales drained reserves from the banking system. D) it reinterpreted a key provision of the Federal Reserve Act.
Over the past 50 years, the average real wage for males who do not have a college diploma has ________
A) fallen B) risen C) remained essentially unchanged D) risen in economic contractions and fallen in economic expansions
The tendency of the prices of identical baskets of goods across countries to converge: a. Is weaker to the extent the countries compared have substantial tariffs on imported goods. b. Is weaker to the extent the countries compared have limiting quotas on imported goods. c. Is weaker for goods and services not traded internationally
d. All of the above are true.