A good that takes up a very large percentage of the consumer's budget will tend to have
a. an elastic demand
b. a perfectly elastic demand
c. an inelastic demand
d. an upward-sloping demand curve
e. very many substitutes
A
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What does the slope of the credit supply curve imply? When do movements along a credit supply curve occur?
What will be an ideal response?
An increase in population can be expected to
a. increase the marginal product of land. b. decrease the supply of land. c. decrease the rents on land. d. decrease the demand for land.
If the long-run average total cost curve is rising as output increases, then the firm faces diseconomies of scale.
Answer the following statement true (T) or false (F)
:Employed full-time:4,200Employed part-time: 700Not employed and looking for work: 300Not employed and not looking for work: 200
Given the data in Table 12.1, the labor force participation rate of Metropolis is approximately:
A. 96 percent. B. 91 percent. C. 83 percent. D. 78 percent.