If a 1 percent increase in price leads to a .7 percent increase in quantity supplied in the short run, the short-run supply curve is
a. elastic.
b. inelastic.
c. unit elastic.
d. perfectly inelastic.
b
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Do you think it is in the material interests of high-income countries to help low-income countries improve their economic performance? Why or why not?
What will be an ideal response?
Health care improvements often don't happen because:
A. health care facilities exist in most parts of the world. B. home remedies and traditional village doctors are more affordable. C. doctors in government clinics have large incentives to practice good medicine. D. people are generally resistant to improvements in their healthcare systems.
How do lags affect stabilization policy? Your answer should include three specific types of lags
There are several criticisms of the minimum wage. Which of the following is not one of those criticisms? The minimum wage
a. often hurts those people who it is intended to help. b. results in an excess supply of low-skilled labor. c. prevents some unskilled workers from getting needed on-the-job training. d. fails to raise the wage of any employed person.