The political incentive structure tends to
a. encourage a balanced budget regardless of economic conditions.
b. discourage budget deficits during recessions.
c. encourage budget surpluses during both recessions and expansions.
d. encourage budget deficits during both recessions and expansions.
D
Economics
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Suppose you observe that minor changes in supply seem to cause dramatic changes in price. You would conclude that
a. demand is unit elastic b. demand is elastic c. demand is inelastic d. demand is perfectly inelastic
Economics
Explain how the market for apartments allocates the scarce supply of apartments near the city center
What will be an ideal response?
Economics