In This Range,the Demand for Wheat Is

question 51

Multiple Choice

In this range,the demand for wheat is

• A) perfectly elastic.
• B) of unit elasticity.
• C) price inelastic.
• D) arc elastic.
• E) invariant.

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Definitions:

Unemployment

The condition of being without a job, while actively searching for employment.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs.

Resources

The total means available for economic and political development, such as minerals, labor force, and finances.

Fully Employs

A state of the economy in which all available labor resources are being used in the most efficient way.