Demand for gasoline is inelastic because there are no substitutes available.
a. true
b. false
Ans: a. true
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The neoclassical growth theory is based on a subsistence real wage rate
Indicate whether the statement is true or false
The Latin expression Ceteris paribus means:
A. everything else being equal. B. economic model. C. economists are partly right. D. partial scarcity is certain.
Explain why women, on average, earn less than men in the United States.
What will be an ideal response?
Monetary policy refers to the actions the Federal Reserve takes to manage
a. the money supply and income tax rates to pursue its economic objectives. b. the money supply and interest rates to pursue its economic objectives c. income tax rates and interest rates to pursue its economic objectives d. government spending and income tax rates to pursue its economic objectives