Which of the following is not considered to be a determinant of the price elasticity of demand for a particular good?
A) The number of available substitutes.
B) The cost of the good relative to total income.
C) The quantity of the good that is supplied to the market.
D) The time period under consideration.
C
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A country that during its entire history has borrowed more from the rest of the world than it has lent to it is a ________, and a country that during its entire history has invested more in the rest of the world than other countries have invested in
it is a ________. A) debtor nation; investor nation B) borrower nation; creditor nation C) debtor nation; creditor nation D) net borrower nation; net lender nation
Labor-augmenting technological advances decrease the marginal productivity of labor
a. True b. False Indicate whether the statement is true or false
Labor productivity can be increased if
A. the government mandates it. B. the standard of living declines. C. there is an increase in capital goods. D. people spend less time developing skills before entering the workforce.
Tariffs, quotas, and exports subsidies all increase domestic production.
Answer the following statement true (T) or false (F)