If demand is perfectly elastic,
A. The demand curve is vertical.
B. The demand curve is very steep.
C. The demand curve has a zero slope.
D. The demand curve is horizontal.
Answer: D
Economics
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Answer the following questions true (T) or false (F)
1. If prices rise on average in the U.S. economy, the purchasing power of a dollar declines. 2. Using "chain-weighted" prices to calculate real GDP remedies the distortions causes by changes in relative prices over time. 3. If the GDP deflator is equal to 100, then for that year nominal GDP is equal to real GDP.
Economics
People who bought candles on the street at midnight during the great Blackout of 2003 ___________ (did/did not) get ripped off.
Fill in the blank(s) with the appropriate word(s).
Economics