Since few Americans would ever be willing to pay more for a sandwich than for a pair of jeans,
A) for most Americans clothing is more important than food.
B) for most Americans clothing is more valuable than food.
C) for most Americans clothing has more monetary value than food.
D) most Americans derive their values from the culture rather than biological necessities.
E) most Americans have little difficulty obtaining enough to eat.
E
Economics
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Generally, expenses on a sport utility vehicle are a large part of a consumer's budget, so the demand for sport utility vehicles is more likely to be
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.
Economics
What did Adam Smith perceive was primarily responsible for improving standard of living?
What will be an ideal response?
Economics