Relative to the short-run demand for gasoline, the long-run demand for gasoline is
A) probably more elastic since people need time to change automobiles and driving habits.
B) probably less elastic since people need time to change automobiles and driving habits.
C) probably more elastic because people can hoard this good.
D) probably less elastic because people cannot store this good.
A
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Whenever two individuals trade with each other, one will benefit and the other will lose.
Answer the following statement true (T) or false (F)
What is the interaction between the Federal Reserve districts and the Board of Governors of the Federal Reserve System?
What will be an ideal response?
The degree of a factor's specificity is inversely related to
A) the mobility of the factor, with more mobile factors having less specificity. B) the amount of time required to redeploy the factor to a different industry. C) the cost of the factor as a proportion of the long-run total cost of production. D) technology differences between two countries, with a less advanced technology resulting in less factor specificity. E) factor quality, with lower quality factors having a lower level of specificity.
One way to predict the future profitability of a company is through:
A. technical analysis. B. fundamental analysis. C. using current prices. D. All of these are ways to predict a company's worth.