A. Aggregate supply is price inelastic
B. Aggregate supply is price elastic
C. Aggregate supply has a unitary price elasticity
D. Aggregate demand is price inelastic
A. One-half ton of steel
B. One ton of steel
C. One and one-half tons of steel
D. Two tons of steel
A. increased proportionally to economic growth
B. increased geometrically, outstripg food supply which grew arithmetically
C. increased stagnantly with food supply and economic development
D. increased disproportionately surpassing agricultural production
A. embargoes
B. voluntary export restraints
C. nontariff barriers
D. orderly marketing agreements
A. U.S oil companies and workers deserved higher incomes
B. U.S oil was of superior quality and merited higher prices
C. one should not be too dependent on foreign suppliers of crucial resources
D. The U.S government needed the quota revenue to balance its budget
A. Signal
B. Incentive
C. Rationing device
D. Indicator of income
A. Act as a signal
B. Act as a incentive
C. Act as a rationing device
D. shift the demand curve