The minimum wage is constant across the United States

If the demand for corn is elastic, then:

a. there are not many substitutes for the consumption of corn. b. the price elasticity of demand for corn is less than -1. c. a decrease in price will reduce total revenue for corn producers. d. an increase in price will increase total revenue for corn producers. e. consumers will continue buying the same quantity even if price increases.

Skeptics of government policy to reduce taxes on saving argue that it would primarily benefit the rich

a. True b. False Indicate whether the statement is true or false