The demand for a subway ride is probably ________ than is the demand for a car because ________.
A. less price elastic; people will take a longer time to adjust to the change in the price of a subway ride
B. more price elastic; a subway ride requires a smaller portion of one's income
C. more price elastic; people will take a longer time to adjust to the change in the price of a subway ride.
D. less price elastic; a subway ride requires a smaller portion of one's income
Answer: D
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The United States consumes more energy per person than any other country in the world.
Answer the following statement true (T) or false (F)
Which of the three stages of economic analysis would include consideration of how each individual's actions affect the options available to others?
a. The first. b. The second. c. The third. d. None, this is not part of economic analysis.