Annie, a high school student, babysits to earn extra cash. In order to differentiate herself from other babysitters, Annie took a babysitting course from the Red Cross. This is an example of a market signal.
Answer the following statement true (T) or false (F)
True
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Based on what you know about the determinants of price elasticiyt, the demands for agricultural products, like, wheat, soybeans, milk, and eggs tend to be
a. price inelastic b. price elastic c. price inelastic only in the long run d. price elastic only in the short run e. price elastic only in the long run
A fall in the demand for the final product brings about
A. a rise in derived demand. B. a fall in derived demand. C. no change in derived demand.
Economists Novy-Marx and Rauh contend that states are
A. accurately stating their pension liabilities. B. accurately stating the value of their assets but understating the value of their pension liabilities. C. understating the value of both their assets and liabilities. D. accurately stating the value of their assets but overstating the value of their pension liabilities.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A