The Civil War's (1861–1865) impact on the growth and development of the U.S. economy was negative
Indicate whether the statement is true or false
True
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The amount of time elapsed since a price change impacts the elasticity of demand because as more time passes,
A) people can find more substitutes, and so the elasticity of demand decreases. B) people can find more substitutes, and so the elasticity of demand increases. C) people's incomes will increase, and so the elasticity of demand decreases. D) the good's price will have a chance to return to its previous level.
One of the main causes of economic inequality in Latin America is the
A) failure of governments to support urban consumers. B) lack of progress in raising agricultural productivity. C) lack of governmental interest in solving the problem of inequality. D) focus of governments on agricultural exports to the detriment of food production. E) oil crisis of the 1970s.
The monopolistically competitive seller's demand curve will tend to become more elastic the:
A) smaller the number of sellers. B) greater the degree of product differentiation. C) larger the number of close competitors. D) more significant the barriers to entering an industry.
free-rider is a person or firm that ________ from a good or service ________.
A) does not benefit; by paying for it B) benefits; by paying for it C) does not benefit; by paying double the price for it D) benefits; without paying for it