If the price of a pumpkin rises and consumers' total expenditure on pumpkins increases, then the demand for pumpkins is inelastic
Indicate whether the statement is true or false
TRUE
You might also like to view...
In the goods market, firms ________ and households ________
A) supply goods and services; purchase goods and services B) pay rent, wages, interest, and profit; earn rent, wages, interest, and profit C) supply land, labor, capital, and entrepreneurship services; hire land, labor, capital, and entrepreneurship services D) purchase goods and services; supply goods and services E) hire land, labor, capital, and entrepreneurship services; supply goods and services
Time on the Cross views slavery as a system in which
(a) the slaves were quite happy, good-hearted and content with their condition. (b) the plantations were efficient operations with incentive systems providing slaves with some rewards for productive behaviors. (c) the slaves, because of the oppression and brutal conditions they faced, had the same type of attitudes as did the inmates of Nazi concentration camps during World War II. (d) the prospects of escape or resistance were so poor that slaves made few revolts against slavery.