Which of the following is an aggregate?
A) the number of shoes in one man's closet
B) the bushels of apples one farmer sells
C) the price of a particular textbook
D) the total production of all goods and services
D
Economics
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A demand for a product is more inelastic
a. When it has many close substitutes b. In the long-run c. When it has many complements d. None of the above
Economics
The income effect is the concept that changes in consumption of a good result from changes in government spending
a. True b. False Indicate whether the statement is true or false
Economics