If the quantity supplied is infinitely responsive to any change in price, the supply curve is:
A. upward sloping.
B. downward sloping.
C. horizontal.
D. vertical.
Answer: C
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If public subsidies for education were eliminated, what would you expect as an outcome in the market for educational services?
A) More students would enroll in school. B) The price students pay to attend school would equal the value of an additional unit of education consumed. C) There would be no correlation between the price students pay and the cost of providing the educational services. D) The quality of education would deteriorate.
Demand deposits are deposits in banks that are available upon making a cash withdrawal or writing a personal check
a. True b. False Indicate whether the statement is true or false
Can purchasing-power parity be used to explain the fact that the U.S. dollar depreciated by more than 50 percent against the German mark between 1970 and 1998, but appreciated by more than 100 percent against the Italian lira during the same period? Defend your answer
If the demand curve facing a firm had a price elasticity of demand equal to infinity and the firm raised its price, its total revenue would:
A. decrease slightly. B. fall to zero. C. not change. D. increase.