When a Higher Price Cannot Bring About Any Increase in the Quantity

question 62

Multiple Choice

When a higher price cannot bring about any increase in the quantity supplied, the supply is

• A)perfectly elastic.
• B)unit elastic.
• C)zero.
• D)perfectly inelastic.
• E)infinity.

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Definitions:

McCarthyism

Post–World War Ⅱ Red Scare focused on the fear of communists in U.S. government positions; peaked during the Korean War; most closely associated with Joseph McCarthy, a major instigator of the hysteria.

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