A monopoly has
a. A perfectly elastic demand curve
b. A perfectly elastic supply curve
c. An inelastic demand curve
d. A more elastic demand curve than a competitive firm
c
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Henry Leland
A. was the first automobile producer to use the movable assembly line. B. was the first automobile producer to manufacture a standardized engine with interchangeable parts. C. sold millions of cars at a small unit of profit that allowed his company to dominate the industry. D. all of the choices are true.
Explain why low-skilled workers find that their employment opportunities are less with a minimum wage
What will be an ideal response?
Firms use hostages
A) to force employees to work. B) to encourage good behavior. C) to get employees to work for less money. D) None of the above.
After nearly tripling the money supply after the housing market crash and subsequent financial crisis, inflation:
A. began to spiral out of control, due to the newfound solvency of banks, increasing lending and thus the money multiplier effect. B. continued to fall, due to the lack of consumer confidence in the market, decreasing the marginal propensity to consume. C. stayed relatively low, due to the lack of lending by banks, reducing the effectiveness of the money multiplier. D. has slowly increased, due to restored consumer confidence in the market, increasing the marginal propensity to consume.