If the price elasticity of supply for a good is equal to infinity, then the
a. supply curve is vertical.
b. supply curve is horizontal.
c. supply curve also has a slope equal to infinity.
d. quantity supplied is constant regardless of the price.
b
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RBC theory leads to ________ government macro-stabilization policy, due to the theory's assumption of ________
A) a rationale for, slow wage and price adjustment B) a rationale for, continuous market-clearing C) a rejection of, slow wage and price adjustment D) a rejection of, continuous market-clearing
Indifference curves cannot ever be concave for two goods
Indicate whether the statement is true or false
The two groups that benefit the most from quotas are
A) the importers who have the right to import the restricted good and the domestic producers of the restricted good. B) the domestic consumers of the restricted good and the domestic producers of the restricted good. C) the domestic consumers of the restricted good and the foreign producers of the restricted good. D) the importers who have the right to import the restricted good and the domestic consumers of the restricted good.
The amount of US debt owned by the English
A. has remained relatively low and constant (relative to other countries). B. dropped to an all-time low in 2015. C. continues to rise. D. dropped from the 1940s through the 1970s, spiked in the 1980s, dropped in the 1990s and early-2000, and rose in the 2010s.