Author Question: If the income elasticity of demand is less than 1.0, it means it is an inferior good. a. True b. ... (Read 149 times)

pepyto

  • Hero Member
  • *****
  • Posts: 547
If the income elasticity of demand is less than 1.0, it means it is an inferior good.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

In its original role as lender of last resort, the Fed was supposed to:
 a. provide mortgage money for the poor.
 b. keep the money supply from drying up during economic panics.
 c. lend money to people in localities not served by commercial banks.
  d. lend money to developing nations whose own central banks had failed.



kilada

  • Sr. Member
  • ****
  • Posts: 311
Answer to Question 1

False

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

kilada

  • Sr. Member
  • ****
  • Posts: 311

 

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

For a complete list of videos, visit our video library