The demand curve shown in the figure above is ________ over the price range from $0.90 to $1.10 per pack
A) perfectly elastic
B) perfectly inelastic
C) unit elastic
D) elastic but not perfectly elastic
E) inelastic but not perfectly inelastic
E
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The key idea of the real business theory is that potential output itself will remain stable over time
Indicate whether the statement is true or false
The table above gives the production possibilities frontier for two countries, Anaconda and Bear. This table shows that
A) when Anaconda and Bear specialize and trade, Anaconda should specialize in the production of shoes. B) when Anaconda and Bear specialize and trade, Anaconda should produce at its production point E. C) Anaconda has an absolute advantage in the production of corn and shoes. D) Bear can consume no more than 2 bushels of corn and 700 pairs of shoes. E) Bear is unable to gain from trade with Anaconda.