In perfectly inelastic supply, the quantity doesn't change which means . . . No deadweight loss and no underproduction
What will be an ideal response?
No deadweight loss and no underproduction
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Along a curved line, the slope at the maximum
A) is greater than zero. B) is zero. C) is less than zero. D) may be greater than, less than, or equal to zero.
If a country grows at an average rate of 3.5 % per year over a ten year period, then its compounded growth rate over that period is roughly:
A. 41.0%. B. 32.7 %. C. 45.0 %. D. 35.0%.
"Patent trolls:"
A. block firms from acquiring patents on intellectual property. B. buy up patents in order to collect royalties and sue other companies. C. legally challenge new patent applications in an effort to extract rents. D. promote innovation by keeping firms from having a stranglehold on intellectual property.
With graph on interest rate and planned investment (downward sloping): Planned investment could increase from $8 million to $12 million if
A) the government increases government purchases. B) the government decreases net taxes. C) the Fed sells bonds in the open market. D) the Fed reduces the required reserve ratio.