When supply is perfectly inelastic, the supply curve is
A) upward sloping but not a straight line.
B) vertical.
C) downward sloping.
D) horizontal.
E) a straight line with a 45 degree slope that goes through the origin.
B
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The demand for loanable funds curve shifts rightward when
A) expected profit decreases. B) the real interest rate rises. C) the real interest rate falls. D) expected profit increases. E) wealth rises.
The cross-price elasticity of demand for a good is the:
A) percentage change in the quantity demanded for a good due to a percentage change in the consumer's income. B) percentage change in the quantity demanded for a good due to a percentage change in the good's price. C) percentage change in the quantity demanded for a good due to a percentage change in tax rates. D) percentage change in the quantity demanded for a good due to a percentage change in the price of related goods.