The cross-price elasticity of demand between Texaco gasoline and Mobil gasoline sold at the same intersection would be

During economic expansions, banks tend to lend less money because of higher interest rates

Indicate whether the statement is true or false

One of the underlying assumptions made when drawing the short-run aggregate supply curve is that: a. average wages and resource costs tend to be sticky in the short run

b. there are many buyers and sellers who are price takers. c. sellers offer differentiated products in the short run. d. capital is perfectly mobile between different industrial sectors in the short run.