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 90 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
:D TYSM

dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

American feral farm cat American feral farm cat
Eye ball perfectly labelled (map) Eye ball perfectly labelled (map)
The demand for energy is met by burning coal and other fossil fuels The demand for energy is met by burning coal and other fossil fuels
Elastic Rebound Elastic Rebound
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
A giant dust cloud about to descend on a farm in Kansas during the 1930s A giant dust cloud about to descend on a farm in Kansas during the 1930s
Video: Conduction of action potentials

For a complete list of videos, visit our video library