A perfectly elastic demand curve has an elasticity coefficient of:
a. 0.
b. infinity.
c. 1.
d. less than 1.
b
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Because people can borrow when they are young, the life cycle theory would suggest that one's standard of living depends on
a. lifetime income rather than annual income. b. aggregate income rather than annual personal income. c. annual extended-family income rather than annual personal income. d. income averaged across seasons rather than across years.
New classical economists believe that it is possible under certain circumstances for an increase in the money supply to lead to a decrease in Real GDP in the short run
Indicate whether the statement is true or false
The fiscal year for the Federal government begins
A. January 1. B. October 1. C. July 1. D. December 1.
In the mid-1990s, Coke introduced a new soda in the soft drink market. Coke then used a new advertising campaign to associate the new soda with youth and strength. Coke was trying to:
A. shift the demand curve for competing soft drinks to the left. B. create a perfectly competitive market for soft drinks. C. maximize its per unit costs through advertising. D. lower the market price of soft drinks.