Price elasticity of supply:
A. is the percentage change in the quantity supplied of a good or service divided by the percentage change in the price of the good or service.
B. is the percentage change in the price of a good or service divided by the percentage change in the quantity supplied of the good or service.
C. is always a negative number.
D. measures consumers' responsiveness to a change in price.
Answer: A
You might also like to view...
The Federal Reserve can increase the money supply by:
A. reducing reserve requirements. B. increasing the discount rate. C. conducting open market sales. D. eliminating deposit insurance.
An assumption in the model of the money supply process is that the desired levels of currency and excess reserves
A) are given as constants. B) grow proportionally with checkable deposits. C) grow proportionally with high-powered money. D) grow proportionally over time.
The Federal Reserve System is a government insurance agency that provides depositors in participating banks 100 percent coverage on their first $100,000 of deposits
Indicate whether the statement is true or false
The following table provides data for an economy in a certain year.Consumption expenditures50Imports40Government purchases of goods and services20Construction of new homes and apartments30Sales of existing homes and apartments40Exports50Government payments to retirees10Household purchases of durable goods20Beginning-of-year inventory10End-of-year inventory20Business fixed investment30Given the data in the table, compute the value of GDP.
A. 160 B. 140 C. 130 D. 150