The larger the portion of a person's total budget spent on a good, the more inelastic the demand for the good

Government tax and expenditure policies that affect real GDP are called

A) automatic fiscal policy. B) discretionary fiscal policy. C) fiscal policy. D) supply-side policy.

When it comes to basic commodities, the United States is a net exporter of oil and metals and a net importer of farm crops

a. True b. False