Price elasticities of supply are always:
a. the same as price elasticities of demand.
b. negative numbers.
c. positive numbers.
d. greater than one.
e. increased when a tax is imposed.
c
Economics
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National output and national income are essentially the same because
A) every purchase implies a sale. B) every cost implies a benefit. C) every profit implies a loss. D) every gain implies a sacrifice.
Economics
A legally mandated minimum wage is an example of:
a. the invisible hand principle. b. a price floor. c. a price ceiling. d. a fringe benefit.
Economics