If farm price supports gave farmers 60 percent parity in 1975, then we know that
a. farm purchasing power was 60 percent higher in 1975 than in 1910–1914
b. farm purchasing power was 60 percent lower in 1975 than in 1910–1914
c. farmers were better off in 1975 than in 1910–1914
d. farm prices in 1975 purchased 160 percent of what they purchased in 1910–1914
e. the purchasing power of a unit of farm goods in 1975 was 60 percent of the purchasing power it had in 1910–1914
E
Economics
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When the percentage change in the quantity demanded equals the percentage change in price, then demand is
A) inelastic. B) unit elastic. C) elastic. D) irrelevant. E) undefined.
Economics
In general, the constant that produces the smallest sum of squared deviations is always the sample average.
Answer the following statement true (T) or false (F)
Economics