The price of beef increased by 20 percent and the quantity supplied increased by 10 percent. The supply of beef is
A) elastic.
B) perfectly elastic.
C) perfectly inelastic.
D) inelastic.
E) unit elastic.
D
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Ford Motor Corporation is considering purchasing new technology that will increase productivity by twenty percent. If Ford Motor Corporation decides to make this investment at the going real interest rate, then
A) Ford's profits will decline. B) the demand for loanable funds increases. C) the supply of loanable funds increases. D) the quantity of loanable funds demanded increases. E) saving increases.
Suppose Bev's Bags makes large handbags and small handbags. They sold 70,000 large bags for $45 each and 25,000 small bags for $15 each. What was the total revenue for this company?
A. $3,150,000 B. $375,000 C. $3,525,000 D. $2,850,000
Which of the following cases represent the smallest increase in the real national debt?
a. The price level increases by 200 percent and the nominal debt increases by 200 percent. b. The price level increases by 200 percent and the nominal debt increases by 100 percent. c. The price level increases by 200 percent and the nominal debt increases by 500 percent. d. The price level increases by 100 percent and the nominal debt increases by 300 percent. e. None of the above
If a production process involved the creation of a negative externality, then the social cost of production would be:
A. zero. B. smaller than the private cost of production. C. larger than the private cost of production. D. the same as the private cost of production.