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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Economics

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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.

Economics

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.

Economics

List and describe the four components of GDP

What will be an ideal response?

Economics

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

Economics