Generally, expenses on a truck are a large part of a consumer's budget, so the demand for trucks is more likely to be
A. inelastic.
B. perfectly elastic.
C. elastic.
D. unit elastic.
Answer: C
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Jose works at Intel. His manager tells him what work needs to be completed each month. Jose's resource, labor, is allocated with which of the following methods?
A) command B) majority rule C) force D) personal characteristics E) lottery
Exhibit 30-5
?
A. Q1. B. Q2. C. Q1 - Q2. D. Q2 - Q1.
When a rise in the price of one item results in a decrease in the demand for another good, then the two goods are
A) substitute goods. B) complementary goods. C) inferior goods. D) satisfying the law of supply.
The comment that "the minimum wage should be raised to give working people in this country a fair wage" is an example of:
a. A normative economic statement b. The fallacy of composition c. A positive economic statement d. The after this, therefore because of this, fallacy