The fact that there is a very limited amount of land in Hong Kong means the supply of new apartments in Hong Kong is
A) inelastic.
B) elastic.
C) unit elastic.
D) perfectly elastic.
E) limited by the demand.
A
Economics
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"Efficiency" refers to
a. producing output using the least amount of labor b. producing output using the least amount of capital c. producing as far inside the production possibilities frontier as possible d. producing only one out of many possible commodities e. getting the maximum possible output from available resources
Economics
The appreciation of the dollar in the late 1990s shifted the U.S. aggregate supply curve outward
a. True b. False Indicate whether the statement is true or false
Economics