Many manufactured goods have an ________ supply if production plans have only a short period to change and as time passes and all production adjustments are made, the supply of the good ________ from the initial response
A) inelastic; increases
B) elastic; decreases
C) elastic; increases
D) inelastic; decreases
E) inelastic; does not change
A
Economics
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In a nation with a market economy, the consumer decides which products will be successful.
a. true b. false
Economics
Money is not ________
A) income because the former is a stock measure and the latter a flow B) wealth because the former is generally used to procure the latter C) as inefficient as barter because the latter requires a double coincidence of wants D) all of the above E) none of the above
Economics