Which of the following combinations of factors comes closest to describing the situation in agriculture?
A) elastic demand for agricultural products and large swings in supply
B) elastic demand for agricultural products and small swings in supply
C) inelastic demand for agricultural products and constant supply
D) inelastic demand for agricultural products and large swings in supply
E) none of the above
D
Economics
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If Sally Smith creates VCU1 by playing an online game, the effect is to cause the nation's:
a. Monetary base to fall. b. M2 money supply to fall. c. M2 money multiplier to remain the same. d. M2 money supply to rise.
Economics
A good is an inferior good if the consumer buys less of it when
a. his income rises. b. the price of the good rises. c. the price of a substitute good falls. d. his income falls.
Economics