The Bay Area subway system, BART, offers senior citizens discounted fares for BART rides. This suggests that BART authorities believe that senior citizens have a ________ demand for subway rides
A) less price elastic B) more income elastic
C) more price elastic D) less income elastic
C
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Refer to the figure above. What is the opportunity cost of producing one Web site?
A) 0.2 computer programs B) 5 computer programs C) 12 computer programs D) 60 computer programs
The inflation rate measures the percentage increase in the price level from one year to the next
Indicate whether the statement is true or false
The price elasticity of demand is
A) always positive, so there is no reason to consider the absolute value of the price elasticity of demand. B) always negative, but by convention, economists typically express the price elasticity of demand as an absolute value. C) always equal to -1, which by convention economists typically express as an absolute value, or 1. D) always equal to zero, so there is no reason to consider the absolute value of the price elasticity of demand.
In general, the more money in existence, the better it functions as a store of value
a. True b. False Indicate whether the statement is true or false