Which of the following goods would have the smallest elasticity of demand?
A) Exxon brand premium unleaded gasoline
B) insulin sold to diabetics
C) an education at Harvard Law School sold to recent college graduates
D) a bottle of Bayer Aspirin sold to someone without a headache
B
Economics
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A wage offer that is above the market wage, intended to avoid the adverse selection problem, is called a(n)
a. efficiency wage b. union wage c. selection wage d. spurious wage e. opportunity cost wage
Economics
If nominal gross domestic product is $4,800 and the money supply is $600, the velocity of money is _____
a. 18.3 b. 8 c. 4.57 d. 12
Economics