Demand for a good is said to be inelastic if the quantity demanded increases substantially when the price falls by a small amount

The hypothesis that people combine the effects of past policy changes on important economic variables with their own judgment about the future effects of current and future policy changes is the basis of the

A) short-run Phillips curve hypothesis. B) rational expectations hypothesis. C) demand-pull inflation hypothesis. D) adaptive hypothesis.

An increase in the amount of capital in the economy will shift the demand curve for labor to the left

Indicate whether the statement is true or false