Demand for products such as insulin, cancer drugs, and tobacco is usually inelastic.
a. true
b. false
Ans: a. true
Economics
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In the 2008-09 recession, the government deficit
A) stayed roughly constant. B) decreased. C) increased. D) would have increased if the government had intervened.
Economics
If both supply and demand increase, then the change in equilibrium quantity is indeterminate
a. True b. False
Economics
If the world price is above the domestic "no-trade" equilibrium price, then with international trade, the shortage caused in the domestic market can be met by foreign imports
a. True b. False Indicate whether the statement is true or false
Economics
It has been said that "economics is the science of common sense." Is economics synonymous with common sense?
Economics