Refer to the following graph.
Since the supply curve intersects the horizontal axis, all the points along the supply curve shown are inelastic.
Answer the following statement true (T) or false (F)
True
All points along a supply curve that intersects the quantity axis have elasticities less than 1.
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An increase in a family’s income will cause its budget line to
A. become steeper. B. become flatter (less steep). C. move closer to the origin. D. move away from the origin. E. become more convex toward the origin.
________ institutions are financial intermediaries that acquire funds at periodic intervals on a contractual basis
A) Investment B) Contractual savings C) Thrift D) Depository
All of the following are true except
A. gross investment minus depreciation equals net investment. B. Karl Marx said that capital is produced by the capitalist. C. inventory investment is less stable than investment in plant and equipment. D. capital can be acquired by borrowing, working more or consuming less.
A firm's short-run supply curve shows the relationship between price and quantity supplied.
Answer the following statement true (T) or false (F)