If your income goes down, you will probably purchase fewer goods and services.

a. true
b. false


Ans: a. true

Economics

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All the following statements about the Federal Reserve are true EXCEPT the fact that it ________

A) is a public authority B) regulates a nation's depository institutions C) accepts checking deposits from the nation's residents D) controls the quantity of money

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An elasticity of demand that would be considered very inelastic would be

A. 0.1. B. 0.9. C. 1.0. D. 1.1.

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People who believe in the ability-to-pay principle would most likely favor ______.

a. regressive taxes b. progressive taxes c. flat taxes d. excise taxes

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If per capita trash generation is constant over time, this implies that:

A. per capita consumption of solids has also been constant. B. per capita consumption of goods and services has also been constant. C. total consumption of solids has also been constant. D. total consumption of goods and services has also been constant.

Economics