An AIDS epidemic hurts an economy by
a. requiring additional expenditures on health care
b. reducing the working-age population
c. increasing the child mortality rate
d. reducing the growth of output
e. all of the above
E
Economics
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Suppose the price of a product rises and the total revenue of sellers increases
A. It can be concluded that the demand for the product is elastic. B. It can be concluded that the supply of the product is elastic. C. It can be concluded that the supply of the product is inelastic. D. No conclusion can be reached with respect to the elasticity of supply.
Economics
In economic terminology, an inferior good is a good
A. for which demand increases as income decreases. B. that has no monetary value. C. that no one will purchase. D. that doesn't work properly.
Economics