If demand is perfectly inelastic, the demand curve is vertical, and the price elasticity of demand equals 0
a. True
b. False
Indicate whether the statement is true or false
True
Economics
You might also like to view...
An increase in the minimum wage to $15 per hour would lead to
A) an increase in search activity for many workers. B) a decrease in search activity for many workers. C) a decrease in unemployment. D) no change in unemployment. E) no change in employment.
Economics
Which of the following is a true statement about equilibrium in the foreign exchange market?
A) Net exports are zero. B) The expected return on domestic assets is equal to the expected return on foreign assets. C) Foreigners wish to purchase the entire supply of domestic assets. D) The relevant central banks meet regularly to choose the equilibrium exchange rate.
Economics