Reply #19: Where do they get these people?

[Shipwack]

From the article...

``The law of demand says simply that the higher the price of anything, the lower the quantity that will be taken,'' says William Dunkelberg, chief economist of the Washington-based National Federation of Independent Business. ``This law has never been incorrect in predicting market behavior.''

"Never been incorrect?" When gasoline prices jumped 50% in the past year, there wasn't a 50% drop in sales. Heck, I seem to recall that Florida is getting the same number of people driving down for vacation this year...

I just got into an argument over this with people in my business class. This story wouldn't have helped me though, because they knew what they knew, and had anecdotal evidence to back them up ( a company in their town went out of business and blamed it on the minimum wage increase.)

::edited for grammar::