Which of the following goods is likely to have the most elastic demand over the relevant range of prices?

a. insulin
b. eggs
c. milk
d. Pepsi Cola
e. gasoline


D

Economics

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Which of the following is a lagging economic indicator?

A) Housing starts B) Employment C) Retail sales D) Inflation

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Government failure occurs when government intervention fails to improve economic outcomes or makes them worse.

Answer the following statement true (T) or false (F)

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How do modern economies experience ongoing inflation when achieving economic growth?

What will be an ideal response?

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National income is the sum of employee compensation, profits, and the following items, except:

A. Rent B. Interest C. Depreciation or consumption of fixed capital D. Taxes on production and imports

Economics