What Fraction of U

question 106

Multiple Choice

What fraction of U.S.employees do personal website surfing every day?

• A)less than one-quarter
• B)slightly less than half
• C)more than half
• D)almost all

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Definitions:

Perfectly Elastic

Refers to a situation in economic theory where a small change in price leads to an infinite quantity demanded or supplied.

Increasing-Cost Industry

An industry in which the cost of production per unit increases as the total output of the industry increases, typically due to resource limitations or regulatory costs.

Consumer Demand

It refers to the desire of consumers to purchase goods and services, combined with their purchasing power, at a given price level and time.

Economic Adjustments

Modifications in market behavior or policies aimed at correcting imbalances and achieving economic stability or growth.