The wealth effect, the interest rate effect, and the international trade effect account for the:
a. positive slope of the short-run aggregate supply curve.
b. the shape of the long-run aggregate supply curve.
c. positive slope of the aggregate demand curve.
d. negative slope of the aggregate demand curve.
e. negative slope of the short-run aggregate supply curve.
d
Economics
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Perfectly elastic demand curves are
a. downward sloping b. upward sloping c. vertical d. horizontal e. steep
Economics
If price increases from $45 to $55, the market quantity supplied increases from 20 units per week to 30 units per week. The price elasticity of supply is
a. 1/2 = 0.5 b. 1.0 c. 11/6 = 1.8333 d. 9/4 = 2.25 e. 2.0
Economics