In the aggregate production function Y = A , real business cycle theory treats ________ as the key independent variable

If, for a given percentage increase in price, quantity supplied increases by a proportionately larger percentage, then supply is

A) unit elastic. B) relatively inelastic. C) elastic. D) perfectly elastic.

Economists assume people's tastes are

a. determined solely by advertising b. relatively stable over time c. quite variable d. irrelevant to utility analysis e. identical