The opportunity cost of producing a good rises only slightly as the quantity produced increases. This good has
A) an inelastic demand.
B) an elastic demand.
C) an elastic supply.
D) an inelastic supply.
E) a perfectly elastic supply.
C
Economics
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An increase in interest rates due to a decrease in the money supply will
A) reduce aggregate demand. B) not change aggregate demand. C) increase aggregate demand. D) decrease aggregate supply in the short run and in the long run.
Economics
In effect, the U.S. does subsidize high-tech firms by subsidizing R&D. This is done through
A) the budget of the Department of Education. B) systematic protection through the levying of tariffs. C) systematic protection through the establishment of NTBs. D) relatively accelerated "depreciation" of R&D investment in the Federal tax codes. E) subsidies for high-tech firms.
Economics