A change in price that has relatively little effect on quantity demanded is called elastic demand

In behavioral economics, salience is best exemplified by

A) consumers responding differently when posted prices increase rather than when prices increase because of sales tax increases. B) consumers responding the same regardless of how prices change. C) the end of a controlled experiment. D) consumers responding differently when income increases permanently rather than temporarily.

Social inequalities disappear when income inequalities are eliminated

Indicate whether the statement is true or false