This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The demand for wheat from farm A is perfectly elastic because wheat from farm A is A) a perfect ... (Read 231 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jun 29, 2018
The demand for wheat from farm A is perfectly elastic because wheat from farm A is
 
  A) a perfect complement for wheat from farm B.
  B) a normal good.
  C) a perfect substitute for wheat from farm B.
  D) an inferior good.

Question 2

Explain how underground economic activity affects measurement of GDP.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

macagn

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

The underground economy is transactions hidden from the government, either because they are illegal or to avoid taxes. Because the underground economy is hidden from the government, it is not included in GDP and so GDP is smaller than it otherwise would be.


dbose

  • Member
  • Posts: 597
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nathang24

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

A crocodile farm in Mexico. A crocodile farm in Mexico.
Cow Wheat Cow Wheat
Perfect logistic curves Perfect logistic curves
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
Wheat Plant Wheat Plant
Video: Mitosis step-by-step

For a complete list of videos, visit our video library