The demand for heating oil in the short run is more elastic than the long run demand for heating oil
Indicate whether the statement is true or false
FALSE
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Suppose, in the United States, each farmer is given a federal agricultural subsidy worth $30,000 . What will be the effect of such subsidy?
a. They discourage domestic agricultural production. b. They allow U.S. farmers to sell their products for lower prices in foreign markets. c. They give foreign producers an unfair cost advantage. d. They increase the amount of agricultural imports into the United States. e. The price of the primary products decline in the U.S. market.
How retail gasoline stations behave in a local market is an example of a macroeconomic issue
a. True b. False
Keeping a $20 bill in your purse to purchase a movie DVD when it comes out next month means that money functions as a
A) medium of exchange. B) unit of account. C) standard of deferred payment. D) store of value.
Conglomerate
What will be an ideal response?