If a surplus accumulates as the result of agricultural support prices, the government must buy it; otherwise the support price cannot be maintained
Indicate whether the statement is true or false
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If the demand for a good is highly elastic, that good is likely to have:
A. many close substitutes. B. many close complements. C. few close substitutes. D. few close complements.
Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks SoldLarry105Joe99Ralph312Based on last month's data, Joe's opportunity cost of selling a truck is selling:
A. 4 cars. B. 1 car. C. 9 cars. D. 1/3 of a car.
List and describe the four components of GDP
What will be an ideal response?
The quantity demanded of money is
A) inversely related to the interest rate. B) directly related to the interest rate. C) inversely related to the general price level. D) inversely related to GDP. E) a, c, and d