The closer the substitutes for a good, the
A) more elastic is the demand for the good.
B) less elastic is the demand for the good.
C) smaller the degree of substitutability between the goods.
D) larger the proportion of income that is spent on the good.
A
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More generous unemployment benefits ________ the opportunity cost of looking for a new job and therefore ________ the job search process
A) lower; extend B) lower; does not change C) lower; shorten D) raise; extend E) raise; shorten
The Human Development Index was proposed because
A) people confuse nominal GDP and real GDP. B) nominal GDP and real GDP are subjective measures. C) of the limitations of real GDP as a measure comparing the standard of living in different nations. D) the GDP deflator changes if the base year is changed. E) different nations have different populations.