The reason that supply and demand tend to be more price elastic over longer time periods is because
A) it takes time for households and businesses to adjust to price changes.
B) some goods have longer shelf life and are reordered less often.
C) firms incur costs in changing the price of goods on their shelves.
D) the feedback loop from buyers to sellers takes time.
A
Economics
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A country reports exports minus imports of $300 billion, net interest income of $30 billion, net transfers of $50 billion, and no change in official reserves. The country is a
A) net liability. B) net borrower. C) net lender. D) debtor nation. E) net asset.
Economics
A decrease in the money supply will shift the money supply curve to the ________, causing the nominal interest rate to ________
A) right; increase B) right; decrease C) left; increase D) left; decrease
Economics