If a good has a price elasticity of demand equal to 0, ________
A) the percentage change in quantity demanded for the good will be greater than the percentage change in its price
B) the demand curve of the good is upward sloping
C) the smallest increase in its price causes consumers to stop consuming it completely
D) the quantity demanded is completely unaffected by a change in its price
D
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A person is dynamically inconsistent if:
A. lapses in self-control occur. B. he does not always follow through on his plans and intentions. C. he changes his ranking of alternatives available at some future date as the date approaches or once it arrives. D. All of these are sufficient for dynamic inconsistency.
Supply curves usually slope upward because producers face increasing opportunity costs when increasing output
a. True b. False
Which of the following is not an example of a country's infrastructure?
a. Educational system b. Political system c. Communications system d. Transportation system
The largest source of unemployment is
A) re-entrants to the labour force. B) job losers. C) involuntary part-time workers. D) job leavers. E) entrants to the labour force.