Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate sometimes is close to zero

If quantity demanded does not change significantly when price changes, how is demand described?

a. elastic b. inelastic c. perfectly elastic d. unit elastic

Everything else equal, technological change will typically

a. move the economy along a fixed production function, increasing both productivity and output b. move the economy along a fixed production function, increasing output but lowering productivity c. cause the production function to shift upward, increasing both output and productivity d. cause the production function to shift upward, increasing output but lowering productivity e. cause the production function to shift upward, increasing output but leaving productivity unchanged