Many economists describe the 2007–2009 period in the United States as being a condition of a(n)

For people who live near a bus route, a subway station, or a commuter rail line, public transportation provides a substitute to driving their own cars

So, for these people, the cross-price elasticity of demand between gasoline and public transportation is A) zero. B) positive. C) negative. D) infinity.

If an infant industry truly has a good chance to become competitive and produce profitably once it is well established, it is not at all clear that government should even offer protection to reduce short-run losses

a. True b. False Indicate whether the statement is true or false