Short-run demand for electricity can be quite elastic because consumers can change when they consume electricity
Indicate whether the statement is true or false
F Even with time-of-use pricing, consumers often don't even know the price of electricity and their lack of responsiveness to price changes keeps their demand inelastic.
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For the recession of 2007-2009, it took ________ for employment to return to its cyclical peak
A) about 18 months B) about 2.5 years C) about 3.5 years D) more than 6 years
A fair game is a game in which the chances are 50-50 that you win or lose
Indicate whether the statement is true or false
The additional shifts in aggregate demand that result when there is an increase in government spending is known as the _____
Fill in the blank(s) with correct word
Which of the following is a positive economic statement?
A) We should raise the minimum wage in order to provide a decent wage for more people. B) Consumers bought fewer cars when the relative price of cars increased. C) The budget deficit has been rising in recent years. D) Federal government spending ought to be curtailed. E) b and c