The demand for gasoline is perfectly inelastic because most people need gasoline to drive their cars

Indicate whether the statement is true or false


FALSE

Economics

You might also like to view...

The Federal Reserve ________ pay interest on reserves held on deposit. The European System of Central Banks ________ pay interest on reserves held on deposit

A) does; does B) does; does not C) does not; does D) does not; does not

Economics

Which of the following conditions is TRUE for a profit-maximizing firm in a perfectly competitive industry?

A) MR = TC B) ATC = AFC C) MR = MC D) MC = AVC

Economics

The imposition of a minimum wage in the unskilled labor market creates labor surplus or unemployment

a. True b. False Indicate whether the statement is true or false

Economics

Exchange rates vis-a-vis the U.S. dollar have changed little over time

a. True b. False Indicate whether the statement is true or false

Economics