Rank the following goods from least to most elastic: gasoline, Unocal gasoline, gasoline at Murph's Unocal Station
A) Gasoline, Unocal gasoline, gasoline at Murph's Unocal Station
B) Gasoline, gasoline at Murph's Unocal Station, Unocal gasoline
C) Gasoline at Murph's Unocal Station, Unocal gasoline, gasoline
D) Unocal gasoline, gasoline at Murph's Unocal Station, gasoline
E) Unocal gasoline, gasoline, gasoline at Murph's Unocal Station
A
You might also like to view...
If aggregate planned expenditures equal real GDP, then
A) unplanned inventory changes equal zero. B) inventories decrease below their planned levels and businesses increase their production. C) inventories decrease below their planned levels and businesses decrease their production. D) inventories increase above their planned levels and businesses decrease their production. E) there is no equilibrium level of real GDP.
If you agree to a long-term loan at a specified nominal rate of interest and inflation turns out to be higher than was anticipated,
A) the nominal rate of interest falls. B) the nominal rate of interest rises. C) the real rate of interest falls. D) the real rate of interest rises.