The supply curve with the greatest elasticity is one with slope of:
A. 1.
B. 2.
C. 1/2.
D. It is impossible to say.
Answer: D
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Many people tend to buy multiple cars from the same manufacturer because
A) doing so reduces the asymmetric information problem; consumers have better knowledge of quality. B) doing so reduces the asymmetric information problem; consumers have better knowledge of prices. C) doing so doesn't change the asymmetric information problem but consumers have more information. D) doing so increases the consumers brand loyalty.
During what period did the US expand its area by the greatest amount?
a. Since 1970. b. 1910-1950. c. 1880-1900. d. 1800-1850. e. 1781-1795.
Which of the following is true of minimum-wage laws?
a. They affect skilled workers' wages. b. They create above-equilibrium wages for some unskilled workers. c. They create a shortage of unskilled labor. d. They negatively affect the employment of skilled workers.
Surge in government demand (G) discourages some private demand (I) and this is a major reason as to why the oversimplified formula: 1/(1–MPC) ____________ the size of the multiplier.
A. exaggerates B. underestimates C. has no impact on D. none of these