A perfectly price inelastic demand curve will be a ________ line.
A. positively sloped
B. negatively sloped
C. horizontal
D. vertical
Answer: D
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Financial innovations such as ATMs and electronic banking have caused an increase in the demand for money
Indicate whether the statement is true or false
A perfectly elastic demand curve is represented by a vertical line
a. True b. False Indicate whether the statement is true or false
Cost-of-living adjustment is a/an ________ in a transfer payment or wage that results in ________ in the price level
a. increase; increase b. increase; decrease c. decrease; increase d. decrease; no change
Given that the demand for unskilled labor curve is downward-sloping, an unintended effect of raising the minimum wage is that some people who worked at the lower wage will lose their jobs at the higher wage
Indicate whether the statement is true or false