"Unit elasticity of demand can be found everywhere along a straight-line demand curve with a slope of -1." Do you agree or disagree? Explain
What will be an ideal response?
Disagree. A vertical demand curve implies perfectly inelastic demand and a horizontal demand curve implies perfectly elastic demand. However, unit elasticity of demand can only be can found in the mid-range of a straight-line demand curve with a slope of -1, but not anywhere else along it.
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In the short run,
A. all of the firm’s input quantities, including plant size, become adjustable. B. firms are not constrained by past decisions. C. firms have relatively little opportunity to change production processes. D. all of the firm’s current commitments come to an end.
If planned injections increase by $100 per day and the MPC is four-fifths,
a. the multiplier will be 5. b. total daily spending will ultimately increase by $150. c. the MPS will be $25. d. All of these.
The questions below are based on the table below. Fill in the blank spaces first. 
If the product and labor markets are both imperfect, what will be the wage rate paid to the laborer?
What will be an ideal response?
Whenever the market price for crops is below the Commodity Credit Corporation (CCC) loan rate, the government will end up buying surplus crops.
Answer the following statement true (T) or false (F)