If the income elasticity for canned food is 0.8, then canned food is an inferior good
Indicate whether the statement is true or false
FALSE
Economics
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Economic mobility in the United States is
a. great, so many of those below the poverty line are there only temporarily. b. rare, so most of those below the poverty line are there for decades. c. rare, yet many of those below the poverty line are there only temporarily. d. unrelated to poverty.
Economics
The price system ultimately determines the allocation of resources among producers.
Answer the following statement true (T) or false (F)
Economics