For all goods, the long run demand curve is always more elastic than the short run demand curve
Indicate whether the statement is true or false
False. Goods that can be easily stored may have a more elastic short run demand curve than long run.
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The Other America, which challenged the notion that we had conquered poverty, was written by ___________.
Fill in the blank(s) with the appropriate word(s).
An employee injured by a damaged machine that the employer knows is broken has recourse under
a. the Good Samaritan Rule. b. the standard of Strict Liability. c. the legal principle of General Average. d. the doctrine of Respondeat Superior.
The Coase Theorem suggests that under its assumption, the efficient solution to an externality problem: a. depends on who owns property rights to the resources
b. is enhanced by government involvement in the negotiations. c. can be enhanced through the use of taxes. d. does not depend on the distribution of property rights.
In the modern U.S. economy, the typical unemployed person stays unemployed for
A) a relatively long time, over a year. B) a relatively short time, less than six months. C) a long time during expansions and a short time during recessions. D) an amount of time that is hard to quantify.