If the income elasticity of demand is less than 1.0, it means it ...

[pepyto]

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]

Answer to Question 1

False

Answer to Question 2

b

[pepyto]

Correct answers!

[kilada]

Great! Please up vote