The standardization of software applications that people can easily share is an example of:
A. a network externality that can be positive or negative.
B. an innovation that does not carry a network externality.
C. a negative network externality.
D. a positive network externality.
D. a positive network externality.
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The ERM crisis in ______ affected the ability of nations to ______.
A) 2001; fully fund their military forces B) 1996; allow labor to migrate between nations C) 1980; maintain a healthy banking system D) 1992; maintain fixed exchange rates without drastic domestic measures
______________—a term referring to the extremely elastic situation of demand or supply where quantity changes by an infinite amount in response to any change in price; it is horizontal when graphed.
a. Infinite elasticity b. Zero elasticity c. Constant unitary elasticity d. Perfect inelasticity