The elasticity of demand for salt is:
a. highly elastic

An expected increase in the market price of oil in the coming year is likely to:

A) shift the supply curve of oil to the right in the current year. B) shift the demand curve for oil to the left in the current year. C) cause no changes in the demand and supply curves of oil in the current year. D) shift the supply curve of oil to the left in the current year.

Cost-push inflation occurs when the factor contributing most to rising prices is increased demand for goods and services

Indicate whether the statement is true or false