If a good is a necessity, it has ________ substitutes and its demand is ________

A) poor; elastic
B) poor; inelastic
C) many; elastic
D) many; inelastic
E) many; precisely unit elastic


B

Economics

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Brazil has a relatively low income per capita because it has relatively few natural resources

a. True b. False Indicate whether the statement is true or false

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Who actually pays an excise tax

A. is determined by income bracket. B. is determined by who the law assigns the tax. C. is wage and salary earners but not people who have only investment income. D. is determined by the change in prices and outputs caused by the tax.

Economics

Explain the two relations that determine the evolution of output in the long run

What will be an ideal response?

Economics