If the elasticity of supply of a good is zero, then its
A) supply curve is vertical.
B) supply curve is horizontal.
C) demand curve must be vertical.
D) supply curve is positively sloped.
A
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Adam Smith used the metaphor of the "invisible hand" to explain how
A) business owners are benevolent. B) markets mismatch buyers and sellers. C) people acting on their own self-interest promote the interest of society as a whole. D) the production possibilities frontier illustrates efficient outcomes.
Often you will hear students say that a college degree is nothing more than a piece of paper
They argue that there are many successful people who don't go to college that are managing large corporations or otherwise have fulfilling and rewarding careers. Given that this is true does this undermine the usefulness of a college degree as a signaling device?