Of the following goods, which is most likely to be quite inelastic?

a. gasoline
b. Chevrolet automobiles
c. fresh tomatoes
d. provolone cheese


a. gasoline

Economics

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If opportunity costs are constant, the production possibilities frontier would be graphed as

A) a negatively sloped straight line. B) a ray from the origin. C) a positively sloped straight line. D) a negatively sloped curve bowed in toward the origin.

Economics

When comparing market and public sector decision making, which statement is NOT true?

A) Self-interest is the motivating force in each decision making arena. B) In both decision making sectors, majority rule is how things are done. C) In both decision making sectors, there are scarcity constraints. D) Collective (political) outcomes and economic outcomes may differ.

Economics

R2 is the ratio of the explained variation compared to the total variation.

Answer the following statement true (T) or false (F)

Economics

How does the PPACA cover those individuals without health insurance and the poor?

What will be an ideal response?

Economics