David Ricardo used the example of land to demonstrate the concept of rent, as the supply of land is

According to your textbook, Keynesian economic theory

A) argues that federal budget deficits were necessary during periods of rapid economic growth. B) questioned the use of the federal budget deficit as a policy tool to manipulate and fine-tune the economy. C) helped break the mentality that federal budget deficits were improper. D) did all of the above. E) did none of the above.

The demand for gasoline in the short run is

A) elastic because people can easily switch to public transportation. B) inelastic because there are very few good substitutes for gasoline. C) perfectly inelastic because people have no choice but to buy gasoline. D) unit elastic because people tend to consume a stable amount of gasoline per period.