If Congress fails to pass a budget before the fiscal year starts, then federal agencies may continue to operate only if Congress has passed a:

If the coefficient of elasticity is 25,

A) demand is 25%. B) demand is about to change for the better. C) demand is very elastic. D) demand is very inelastic. E) the law of demand hardly applies.

Which term do economists use to refer to a difference in wages that arises from nonmonetary characteristics of different jobs?

a. non-pecuniary differentials b. compensating differentials c. fundamental differences d. idiosyncratic differences