The cross-price demand curve for Cobb-Douglas tastes is perfectly vertical.
Answer the following statement true (T) or false (F)
True
Rationale:
-- with 
not appearing in the demand function. Thus, the quantity of 
demanded is independent of 
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If supply is inelastic, then a demand shift will have a ____ effect on _______ than on quantity.
A. smaller; price B. smaller; supply C. bigger; price D. bigger; supply
Scarcity is a problem that will eventually disappear as technology advances
Indicate whether the statement is true or false
The interest that people receive on the government bonds is part of
a. net national product and is included in national income b. their personal income, but is not included in national income c. their personal income, but is included in capital depreciation d. the underground economy, so it is not included in GDP e. the numerous transfer payments the government makes, so they are not counted as part of national income
The aggregate supply curve shows the relationship between ____ and ____, holding all other factors constant
a. price level; quantity of real GDP supplied b. price level; supply of nominal GDP c. nominal GDP; price level of real GDP d. price level; amount of nominal GDP supplied