If a Supply Curve Is a Horizontal Line, Supply Is

question 226

Multiple Choice

If a supply curve is a horizontal line, supply is said to be

• A)perfectly inelastic.
• B)unit elastic.
• C)inelastic.
• D)perfectly elastic.

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Definitions:

Federal Outlays

Government spending or expenditures, including the money spent on defense, education, social security, and other public services.

Federal Budget

A plan for federal government outlays and revenues for a specified period, usually a year.

Fiscal Policy

Government strategies to influence a country's economy through public spending and taxation decisions.

Monetary Policy

The process by which the central bank of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.