Political instability is an obstacle to development in:

According to your text, there are substitutes for any scarce good,

A) but some demand curves are vertical. B) but the elasticity of demand for most goods is zero. C) but the law of demand only holds for inexpensive goods. D) but it often takes time for consumers to seek out useful substitutes.

Which of the following is not a drawback of forecasting using the compound growth rate method?

A) only considers first and last observations B) considers only equal absolute changes C) disregards fluctuations between the original and terminal observations D) does not consider any trends in the data