To limit political influence on Fed policy, the terms of the Fed Board of Governors are staggered so that one new appointment is made every four years to coincide with the presidential elections
Indicate whether the statement is true or false
False
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In the above table, the cross price elasticity of demand for good Y with good X when PX rises from $10 to $12 is
A) +0.29. B) +1.83. C) +0.58. D) -0.58.
If two goods are substitutes, an increase in the price of one will cause the demand for the other to decrease
Indicate whether the statement is true or false
Scarcity means we are unable to have as much as we would like to have
a. True
b. False
Indicate whether the statement is true or false
With respect to local finance, it is correct to say that
A. Sales and excise taxes are the major source of revenue and highway construction and maintenance the major type of expenditure. B. Property taxes are the basic source of revenue and education the major type of expenditure. C. The corporate income tax is the major source of revenue and natural resource development the major type of expenditure. D. Estate and gift taxes are the major source of revenue and most expenditures are for hospitals and health services.