Refer to the graph shown. Between points E and F demand is:
A. elastic.
B. inelastic.
C. unit elastic.
D. perfectly elastic.
Answer: B
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Inflation reduction is more politically popular than full employment and poverty reduction
Indicate whether the statement is true or false
Which of the following is not an example of a moral hazard problem?
a. A manager stays late one evening so that her employee can leave early to attend his child's music recital. b. A small child takes an extra cookie from the cookie jar when he thinks his mom isn't watching him closely. c. An employee plays solitaire on her computer at 4:30 p.m. on a Friday when her boss has left for the day. d. A customer whose new eyeglasses come with a "60-day insurance policy in case of breakage" leaves her glasses out where her new puppy can chew on them.
Which of the following statements about the relationship between economic costs and accounting costs is true?
A. Accounting costs are always greater than economic costs. B. Accounting costs must always equal economic costs. C. Accounting costs are always less than or equal to economic costs. D. Accounting costs are equal to or greater than economic costs.
What are the major economic effects on output, prices, and farmers’ income from government price supports that set minimum prices for farm products?
What will be an ideal response?