The elasticity of any demand curve is the same as its slope.
Answer the following statement true (T) or false (F)
False
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If the price increases by 20 percent and the quantity supplied increases by 40 percent, what does the elasticity of supply equal?
What will be an ideal response?
Imagine a budget line depicting a consumer's possible allocation of a given income between fruit and vegetables. If the consumer's income increases at the same time the price of vegetables rises, the budget line's intercept with the
a. fruit axis will be unaffected b. fruit axis will move toward the origin c. vegetable axis will be unaffected d. fruit axis will move toward the origin e. vegetable axis might remain unchanged, move toward the origin, or move away from the origin
Which of the following was never a labor union?
a. American Federation of Labor b. Labor Relations Board c. Congress for Industrial Organization d. Knights of Labor
Discretionary policy calls for continual adjustments to the money supply and is associated with the monetarist perspective.
a. true b. false