Consider the following statements when answering this question. I. If no consumer has a kinked demand curve for CDs, then the market demand curve for CDs cannot be kinked either. II
If at a price of $10, every consumer has inelastic demand, then at that price the market demand for CDs will be inelastic too. A) I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) I and II are false.
D
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Saving differs from savings in that
A) saving is a flow while savings is a stock. B) saving is both a flow and a stock while savings is a stock. C) saving is a stock while savings is a flow. D) saving is a stock while savings is both a flow and a stock.
In public education, the value of the services provided is
A) greater than the value that parents and students place on the services. B) equal to the value that parents and students place on the services. C) less than the value that parents and students place on the services. D) zero since they are a public good.