When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services:
A. a dollar buys less today than it used to buy.
B. a dollar buys more today than it used to buy.
C. a dollar buys the same today as it used to buy.
D. our income has increased to match the cost of those goods.
A. a dollar buys less today than it used to buy.
Economics
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Economics
The amount of a tax paid by the sellers will be smaller the more ________ the demand and the more ________ the supply
A) elastic; inelastic B) inelastic; elastic C) inelastic; inelastic D) elastic; elastic
Economics