Deadweight loss is greatest when
a. both supply and demand are relatively inelastic
b. both supply and demand are relatively elastic
c. supply is elastic and demand is perfectly inelastic
d. demand is elastic and supply is perfectly inelastic
b. both supply and demand are relatively elastic
Economics
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Statements that make value judgments are:
A) pecuniary. B) positive. C) nominal. D) normative.
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Health insurance was not an important policy issues prior to 1940 because _____
a. less than 10 percent of the U.S. population had health insurance b. health care was so cheap c. of the widespread ability of local charitable hospitals d. most individuals were covered by veteran health benefits
Economics