The benefit of a subsidy will go primarily to buyers when the
a. demand for the product is highly inelastic and supply is relatively elastic.
b. demand for the product is highly elastic and the supply is relatively inelastic.
c. subsidy is legally (statutorily) granted to the seller of the product.
d. subsidy is legally (statutorily) granted to the buyer of the product.
A
Economics
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The Great Recession of 2007-2009 caused U.S. family wealth to shrink, mostly due to the sharp decline in:
A. Family incomes B. Consumer spending C. Average house prices D. Employment and wages
Economics
The pair of items that is likely to have the LARGEST positive cross-price elasticity of demand is:
A) coffee and tea. B) skis and ski boots. C) pizza and pepperoni. D) milk and cookies.
Economics