Along a linear demand curve, as the price rises, demand becomes more
a. steep
b. elastic
c. inelastic
d. unit elastic
e. variable
B
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The Federal Reserve issues a report indicating that future inflation will be higher than had previously seemed likely. As a result
A) the supply curve for bonds shifts to the right. B) the demand curve for loanable funds shifts to the left. C) the equilibrium interest rate falls. D) the equilibrium price of bonds rises.
Based on the data in the above table, then if opportunity costs are constant, the opportunity cost of producing movies in the United States is ________, and the opportunity cost of producing movies in Switzerland is ________
A) 2 movies; 2 cuckoo clocks B) 2.5 movies; 0.4 cuckoo clocks C) 0.4 cuckoo clocks; 0.5 cuckoo clocks D) 2.5 cuckoo clocks; 2 cuckoo clocks
Figure 4-24
Refer to . The price that buyers pay after the tax is imposed is
a.
P1.
b.
P2.
c.
P3.
d.
impossible to determine from the figure.
_________ collusion can occur even when oligopolistic businesses do not directly communicate with each other.
A. Explicit B. Marginal C. Ordinary D. Implicit