An increase in demand will increase prices least when supply is
A. inelastic (but not perfectly inelastic).
B. unit elastic.
C. perfectly inelastic.
D. elastic.
Answer: D
Economics
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In the debate between equity and efficiency, _____ tend to favor efficiency, while _____ tend to favor equity
a. Keynesians; classicals b. monetarists; supply-siders c. supply-siders; Keynesians d. classicals; supply-siders.
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If the poverty threshold is set at 50 percent of median income, and if the poverty line is $10,000 . what is median income?
a. $50,000 b. $20,000 c. $10,000 d. $5,000 e. $25,000
Economics