In the case of perfectly inelastic demand, the demand curve is:
A. upward sloping.
B. downward sloping.
C. vertical.
D. horizontal.
Answer: C
You might also like to view...
Long-run unemployment in the classical model is considered to be impossible because
A) flexible prices and wages keep workers fully employed. B) the government will intervene to aid the unemployed. C) job placement and training programs are rampant in the United States. D) the labor supply is horizontal.
The crowding of women and minorities into a restricted number of occupations:
A. has no impact on the size of the domestic output or its distribution in the long run. B. will increase the size of the domestic output and make its distribution more equal. C. will decrease the size of the domestic output and make its distribution less equal. D. will increase the size of the domestic output but make its distribution less equal.