What is the price elasticity of demand at any point on a perfectly inelastic demand curve?

Interest rates are positive mainly because

A) of inflation. B) people tend to prefer the present to the future. C) people tend to prefer the future to the present. D) bankers are greedy.

The major reasons why economists have grown increasingly skeptical about countercyclical fiscal policy are

a. irreversibility, forward looking behavior, and the reaction of the Federal Reserve. b. irreversibility, forward looking behavior, and the negative effects of imports. c. timing problems, irreversibility, and forward looking behavior, d. timing problems, irreversibility, and the reaction of the Federal Reserve. e. timing problems, irreversibility, forward looking behavior, and the reaction of the Federal Reserve.